UK National Crime Agency Freezes £10 Million in Sorare Probe Amidst Unlicensed Gambling Concerns

The United Kingdom’s National Crime Agency (NCA) has reportedly taken a significant step in its ongoing investigation into the online sports company Sorare, freezing approximately £10 million (equivalent to about $13.5 million USD). This action underscores the growing scrutiny faced by companies operating at the intersection of digital assets, sports, and gambling, particularly concerning their regulatory compliance within the UK.

According to a report published by the UK news outlet The Sun on Monday, the NCA’s probe into Sorare centers on allegations of unlicensed gambling activities. The company, known for its innovative digital trading cards built on blockchain technology, had previously established a substantial presence in the sports world. Notably, Sorare secured a four-year partnership deal with the Premier League, valued at $162 million. However, this lucrative collaboration was terminated at the conclusion of the last football season, a development that now appears to be viewed in a new light given the NCA’s investigation.

The freezing of the £10 million in cash, as reported by The Sun, was enacted following an order issued in January 2025 by the Westminster Magistrates’ Court. A spokesperson for the NCA reportedly clarified the purpose of this financial freeze, stating that the order was specifically "to prevent dissipation of the funds while the NCA investigates any potential links between those funds and alleged third-party criminality." This suggests that the agency is not only examining Sorare’s direct operations but also exploring potential connections to other illicit activities that may involve the frozen assets.

This development follows a broader trend of increased regulatory oversight concerning cryptocurrency-related ventures and their involvement with established sports leagues. In June, the UK’s Financial Conduct Authority (FCA) proactively communicated its concerns to Premier League clubs. The FCA dispatched letters to various clubs, issuing warnings about "questionable sponsorship deals" that involved companies operating without the necessary authorization to function within the United Kingdom, particularly those engaged in the cryptocurrency sector.

The Premier League, in particular, has seen a number of its clubs enter into sponsorship agreements with crypto-related entities. For the upcoming season, clubs such as Chelsea have partnered with stablecoin issuer Circle, while Manchester City has aligned with the OKX exchange. These partnerships, while indicative of the growing financial integration between traditional sports and the digital asset space, have also drawn the attention of financial regulators concerned about consumer protection and market integrity.

Globally, the landscape of crypto-related sponsorships in sports has experienced a noticeable shift. Reports indicate a decline in the number of such deals since their peak in 2022. This downturn is widely attributed to a combination of factors, including the broader market downturn experienced by cryptocurrencies and increasing concerns surrounding the public association of major sports organizations with an industry that has faced its share of controversies and regulatory challenges.

The NCA’s action against Sorare adds another layer of complexity to the evolving relationship between sports, digital assets, and financial regulation. The investigation highlights the imperative for companies operating in these dynamic and often novel sectors to ensure strict adherence to existing legal frameworks, particularly those pertaining to financial services and gambling. The freezing of funds serves as a stark reminder that regulatory bodies are actively monitoring these activities and are prepared to intervene when potential non-compliance or illicit connections are suspected.

This situation also has broader implications for the wider cryptocurrency industry and its aspirations for mainstream adoption and integration into traditional sectors like professional sports. The scrutiny from agencies like the NCA and FCA signals a more cautious and regulated future, potentially influencing how future sponsorship deals are structured and vetted. For companies like Sorare, the investigation represents a significant challenge that could impact its operations, reputation, and future growth prospects. The outcome of the NCA’s probe will undoubtedly be closely watched by industry participants, regulators, and sports organizations alike, as it could set precedents for how similar ventures are treated in the UK and potentially beyond.

The article published by Cointelegraph, from which this report is derived, is committed to independent and transparent journalism. It adheres to Cointelegraph’s Editorial Policy, aiming to provide accurate and timely information. Readers are encouraged to conduct their own independent verification of the facts presented. The broader context of the UK government’s acknowledgement of a growing number of crypto millionaires, as reported in 2025, further underscores the significant financial activity and potential regulatory interest in this sector within the United Kingdom.