Sorare Probe: UK Freezes $13.6M in Premier League Funds

The UK's National Crime Agency has frozen $13.6 million in Premier League funds as part of an ongoing investigation into Sorare, a crypto fantasy soccer card game. The agency obtained a court order to freeze the funds under the Proceeds of Crime Act, which allows for the temporary seizure of assets suspected of being linked to criminal activity.

The frozen funds were the first installment of a four-year sponsorship deal between the Premier League and Sorare, worth around $41 million per year. The deal gave Sorare the right to issue digital cards of players from all 20 clubs in the league, with clubs paid according to how often their cards were used.

Sorare is also facing a separate prosecution by the Gambling Commission for allegedly running a gambling operation without a license. The company has denied these allegations, stating that its game rewards skill rather than chance.