FanDuel to pay NFL’s Jaguars roughly $5M to offset losses from ex-employee’s theft: sources
Summary
FanDuel has agreed to pay the Jacksonville Jaguars roughly $5 million to help offset about $20 million that a former financial manager, Amit Patel, stole and deposited at the sportsbook. The settlement was finalised earlier this year after Patel pleaded guilty to stealing $22 million via the team’s virtual credit card system; he is serving a 6½-year federal prison sentence. Patel has sued FanDuel for $250 million alleging the operator ignored responsible gambling and anti-money-laundering protocols; the Jaguars sued Patel seeking more than $66 million.
Key Points
- FanDuel negotiated a roughly $5 million payment to the Jacksonville Jaguars to offset funds wagered at its platform that were tied to theft.
- The theft was carried out by Amit Patel, the Jaguars’ former financial manager, who used a virtual credit card system to steal about $22 million between 2019 and 2023.
- Patel pleaded guilty and is serving 6½ years in federal prison; he later sued FanDuel for $250 million claiming the company failed to enforce its own safeguards.
- The Jaguars sued Patel in July 2024, seeking over $66 million in damages related to the fraud.
- As an NFL official gambling partner, FanDuel opted for an amicable resolution to avoid an expensive legal battle and public fallout; both sides declined to comment publicly.
Context and relevance
This case sits at the intersection of team finance, internal controls and regulated gaming. It underscores risks with virtual payment systems, employee access to organisational funds, and operator compliance obligations. The settlement is notable for the industry because it shows how commercial partnerships can shape dispute resolution and risk allocation in high-profile incidents.
Why should I read this?
Short version: an employee allegedly siphoned millions and a major sportsbook quietly paid up to head off a court fight. If you follow sports betting, regulatory compliance or commercial partnerships in sport, this is worth a skim. Read the detail if you care about potential legal precedents and how operators manage exposure.