UK crime agency freezes $13.5M in Sorare probe over unlicensed gambling claims

The UK’s National Crime Agency (NCA) has frozen $13.5 million in cash as part of an investigation into Sorare, a company that offers blockchain-based digital trading cards for sports.

The freeze follows a January 2025 court order from Westminster Magistrates’ Court. According to a report from UK news outlet The Sun, the NCA is investigating claims that Sorare operated unlicensed gambling services. The funds were frozen to prevent them from being moved while authorities examine possible links to third-party criminal activity.

Sorare’s Premier League deal and regulatory warnings

Sorare had a four-year, $162 million sponsorship deal with the Premier League, which ended last season. The UK’s Financial Conduct Authority (FCA) warned Premier League clubs in June about “questionable sponsorship deals” with unauthorized firms, including some in crypto.

Despite the decline in crypto sponsorships since 2022, some clubs still have crypto-related sponsors for the current season, such as Chelsea’s partnership with stablecoin issuer Circle and Manchester City’s deal with the OKX exchange. A stablecoin is a type of cryptocurrency designed to hold a steady value, often tied to traditional currencies like the US dollar.

What is confirmed

• The NCA froze 10 million pounds (about $13.5 million) linked to Sorare.
• The freeze was ordered by Westminster Magistrates’ Court in January 2025.
• The investigation involves allegations of unlicensed gambling.
• Sorare previously had a major sponsorship deal with the Premier League, which has since ended.
• The FCA warned Premier League clubs about sponsorships with unauthorized firms.

What is still unclear

It is not confirmed whether the frozen funds are directly tied to criminal activity or if charges will be filed against Sorare. The NCA’s investigation is ongoing.

Why this matters

The case highlights regulatory scrutiny over crypto-related businesses in sports sponsorships, particularly those operating in areas that may overlap with gambling laws. Authorities are increasingly examining the legality of such partnerships in the UK.

Sources

• Cointelegraph