Sorare's Premier League Sponsorship Funds Frozen

The UK's National Crime Agency (NCA) has decided to freeze the first installment of £10 million from Sorare's sponsorship agreement with the Premier League. The allegations focus on Sorare sending money to the Premier League that may have been obtained from crimes committed by third parties. The freezing decision was made last January, but this situation has only come to light now due to the lack of an official announcement. Sorare had signed a four-year sponsorship deal with the Premier League in 2022 worth approximately £30 million. There are no allegations of wrongdoing against the Premier League. Additionally, there is an ongoing gambling case against Sorare being conducted by the UK Gambling Commission. Sorare denies the allegations of providing gambling services without the necessary license. The case was opened in 2024, and the latest hearing has been postponed to June 2027. Sorare is known as an NFT platform where the value of player cards appreciates. For example, Manchester City player Erling Haaland's 'Unique' card from Dortmund was sold for 265 Ether in 2022, which corresponded to $700,000 at that time.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.