FanDuel agrees to pay Jaguars $5 million in embezzlement settlement

• FanDuel has reached a $5 million settlement with the Jacksonville Jaguars to help offset losses from former employee Amit Patel’s embezzlement scheme
• Patel stole $22 million from the team between 2019 and 2023, depositing nearly $20 million into his FanDuel account for gambling
• The settlement was finalised in early 2025 and aimed to maintain FanDuel’s partnership with the NFL whilst avoiding costly litigation

FanDuel has agreed to pay the Jacksonville Jaguars approximately $5 million to help offset losses from a high-profile embezzlement case involving former team financial manager Amit Patel.

The settlement, finalised in early 2025, was reached after months of discussions between the NFL franchise and the sportsbook operator. The agreement stems from Patel’s theft of $22 million from the Jaguars between September 2019 and February 2023, using the team’s virtual credit card expense system.

Nearly $20 million of the stolen funds was deposited into Patel’s FanDuel account, where he placed extensive wagers on daily fantasy sports contests. An additional $1 million was transferred to DraftKings during the same period.

Patel exploited his position overseeing monthly financial statements and departmental budgets to manipulate internal accounts by duplicating and inflating legitimate charges for catering, airfare and hotel expenses.

The former financial manager pleaded guilty in December 2023 to wire fraud and illegal monetary transactions. In March 2024, he was sentenced to six and a half years in federal prison and ordered to pay $21.1 million in restitution to the Jaguars.

“The way [FanDuel] see[s] it … we got this money fair and clear. It’s not our problem that we have to forfeit it back to you,” a source familiar with initial discussions told ESPN in February 2024.

However, the NFL encouraged both parties to reach an amicable resolution to avoid a potentially expensive legal battle. Sources close to the deal indicated that FanDuel was motivated to pay the Jaguars “in the interest of being a good partner” with the league.

The settlement represents approximately 25% of the amount Patel deposited at FanDuel, providing partial compensation for the Jaguars’ losses. Neither the team nor FanDuel have publicly commented on the agreement.

Legal battles continue to unfold around the case. The Jaguars filed a lawsuit against Patel in July 2024, seeking more than $66 million in damages, including interest and investigation costs. In October 2024, Patel filed a $250 million counter-lawsuit against FanDuel, alleging the company failed to enforce responsible gambling safeguards and anti-money laundering protocols.

Patel’s defence team has claimed his actions were driven by a severe gambling addiction, though federal prosecutors rejected this argument. Court documents revealed Patel funded a lavish lifestyle during his employment, including private jets, luxury vehicles, cryptocurrency purchases and expensive hotels.

The former employee was transferred from a federal facility in Alabama to Duval County, Florida jail after state prosecutors filed first-degree organised fraud charges against him. This additional charge carries a potential 30-year prison sentence.