Sportsnaut
FanDuel has agreed to pay the Jacksonville Jaguars about $5 million to help cover losses tied to former team financial manager Amit Patel, according to ESPN. The settlement, reached earlier this year, follows revelations that Patel stole more than $20 million from the franchise and funneled most of it into sports betting.
Patel, who oversaw the Jaguars’ virtual credit card program from 2019 through early 2023, admitted in federal court that he falsified and inflated routine expenses such as hotel stays and catering bills. He used the excess funds to bet heavily on daily fantasy and other wagers, primarily through FanDuel and, to a lesser extent, DraftKings. Nearly all of the stolen money was gambled away.
The 31-year-old pleaded guilty in late 2023 to wire fraud and illegal monetary transactions. He was sentenced in March 2024 to six and a half years in prison and ordered to repay roughly $21.1 million. He is also suing FanDuel for $250 million, claiming the company failed to monitor his betting activity and ignored signs of a gambling addiction even though he was an NFL team employee, a group barred from wagering under league rules.
FanDuel initially argued it bore no responsibility for Patel’s actions. But the NFL encouraged the company and the team to resolve the dispute to avoid a prolonged legal fight. The $5 million agreement provides partial restitution for the Jaguars and helps FanDuel maintain good standing as an official league betting partner.
Even with the settlement, most of the stolen funds remain unrecovered. The Jaguars continue to pursue restitution from Patel, while his lawsuit against FanDuel moves forward. The outcome of that case could further define the responsibilities of betting companies.
For now, the $5 million payment provides the team some relief and closes one chapter of a costly and embarrassing episode.
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