UK crime agency froze $13.5M amid probe into Premier League crypto sponsor

The UK’s National Crime Agency (NCA) has reportedly frozen 10 million pounds, or about $13.5 million, as part of an investigation into online sports company Sorare.According to a Monday report from UK news outlet The Sun, the NCA was conducting a probe into Sorare over claims of unlicensed gambling. The company is behind digital trading cards on the blockchain and signed a four-year, $162-million partnership deal with the Premier League in 2023, which was terminated at the end of last season.The Sun reported that the NCA froze $13.5 million in cash following a January 2025 order from the Westminster magistrates’ court. A spokesperson reportedly said that the order was intended “to prevent dissipation of the funds while the NCA investigates any potential links between those funds and alleged third-party criminality.”In June, the UK’s Financial Conduct Authority (FCA) said it had sent letters to clubs in the Premier League, warning about “questionable sponsorship deals” with companies not authorized to operate in the country, including those involved with crypto.Some of the Premier League clubs have crypto-related sponsors for the upcoming season, including stablecoin issuer Circle for Chelsea and the OKX exchange for Manchester City. However, the number of sponsorship deals between crypto companies and sports teams globally has reportedly declined since 2022 following the market downturn and concerns over public ties to the industry.