FanDuel Agrees to Pay Jacksonville Jaguars $5 Million to Offset Stolen Funds
A former financial manager, Amit Patel, was found guilty of stealing $22 million from the Jacksonville Jaguars and deposited the funds at the sportsbook FanDuel. The NFL team initially sought damages of $66 million, while Patel countered with a $250 million lawsuit, claiming FanDuel preyed on his gambling addiction and ignored responsible gambling protocols. The two parties have since reached an amicable agreement, with FanDuel agreeing to pay the Jaguars around $5 million to offset the stolen funds.
Key Takeaways:
- FanDuel has agreed to pay the Jacksonville Jaguars approximately $5 million to help offset the nearly $20 million stolen by former financial manager Amit Patel.
- Patel was found guilty of stealing $22 million from the Jaguars and deposited the funds at FanDuel, which is an official gambling partner of the NFL.
- Patel sued FanDuel for $250 million, claiming the company preyed on his gambling addiction and ignored responsible gambling and anti-money laundering protocols.
- The Jaguars initially sued Patel for over $66 million in damages in July 2024.
- Patel's theft occurred between September 2019 and February 2023, when one of his bets was flagged by the NFL.
- Patel is currently serving a 6 1/2 year sentence in federal prison in South Carolina.
- FanDuel's agreement to pay the Jaguars $5 million reflects the company's desire to avoid a potentially expensive legal battle.
Statistics:
- $22 million: the amount stolen by Amit Patel from the Jacksonville Jaguars.
- $20 million: the amount of stolen funds deposited at FanDuel.
- $5 million: the amount FanDuel agreed to pay the Jaguars to offset the stolen funds.
- 6 1/2 years: the prison sentence of Amit Patel.
- July 2024: the time when the Jaguars initially sued Patel for over $66 million in damages.
Sources:
- AP NFL: https://apnews.com/hub/nfl
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