FanDuel is not interested in returning one single penny of stolen money to the Jacksonville Jaguars. They didn’t do any of the stealing so they are not responsible for giving it back! Why would they?
According to ESPN, the company is unwilling to pay back approximately $20 million to the organization.
It all stems from Amit Patel, who previously served as a midlevel finance manager for the Jaguars. He has pleaded guilty to stealing $22 million from the team through a virtual credit card system used for expenses over the course of more than 3.5 years. His sentencing will take place on March 12 and could put him behind bars for up to 30 years.
Patel turned right around and blew through his stolen fortune on bad bets. It is almost incomprehensible how bad of a gambler he is.
Of the $22 million, Patel lost about $20 million on daily fantasy and sports bets on FanDuel, and about $1 million on DraftKings— both of which are official partners of the NFL. He would transfer money directly from the team-issued credit card to his various sports betting accounts and somehow managed to lose it all in a relatively short amount of time.
FanDuel alerted the NFL of Patel’s betting in January 2023. They discovered that he was a high-stakes and high-volume daily fantasy player, but it is unclear as to what triggered the investigation.
Jacksonville had no idea. The Jaguars found out about the embezzlement scheme when the NFL first made them aware. They are out $22 million with no clear answer as to how to recoup those funds.
As a result, Jacksonville brass reportedly asked FanDuel for the money to be returned. They are working out the details on both sides.
The source familiar with the situation said discussions are ongoing among FanDuel, the Jaguars and the NFL on what the source called “a settlement.” However, the source said, “The way they see it … we got this money fair and clear. It’s not our problem that we have to forfeit it back to you.”
“I would be gobsmacked if it happened,” the source added.
— ESPN
Neither FanDuel, nor DraftKings nor the NFL, nor the Jaguars have commented further.
However, under federal law, the sportsbooks have an obligation to make sure that funds used for sports betting are legally obtained. Regulations aren’t quite as clear or definitive for daily fantasy.
FanDuel apparently does not believe that it has any obligation to Jacksonville. We shall see if it gets litigious!