UK Crime Agency Freezes Premier League Funds in Sorare Investigation
- The UK’s National Crime Agency has frozen $13.6 million (£10,024,041.33) from a Premier League bank account under the Proceeds of Crime Act.
- Funds were part of a four-year sponsorship deal with Sorare, valued at approximately $163 million (£120 million).
- Sorare faces a separate prosecution by the Gambling Commission for allegedly operating without a gambling license, with trial set for June next year.
The National Crime Agency’s action aims to prevent the dissipation of funds while investigating possible links to third-party criminality involving Sorare. The Premier League is not accused of any wrongdoing but seeks to modify the order before its expiration in September.
This case highlights regulatory scrutiny over crypto partnerships in sports, as authorities warn clubs about potential legal risks from unauthorized financial firms. (Source)
