Sorare's Crypto Sponsorship Scandal: NCA Froze $13.5M

The UK's National Crime Agency (NCA) froze 10 million pounds ($13.5 million) as part of an investigation into digital trading card company Sorare, following a January 2025 order from the Westminster Magistrates’ Court. Sorare, which operates on the blockchain, signed a four-year, $162 million partnership deal with the Premier League in 2023, which was terminated at the end of last season. The NCA froze the funds to prevent dissipation while investigating potential links to alleged third-party criminality. In June, the UK's Financial Conduct Authority (FCA) warned Premier League clubs about 'questionable sponsorship deals' with unlicensed crypto-related companies. Chelsea has Circle as a stablecoin issuer sponsor, while Manchester City is backed by the OKX exchange. However, global sponsorship deals between crypto firms and sports teams have reportedly declined since 2022 due to market downturns and regulatory concerns. Sorare's case raises new questions about the crypto sector's regulatory challenges.