Leicester City have been charged with an alleged breach of the Premier League‘s Profit and Sustainability rules.
The alleged breach relates to the accounting period ending in the 2022-23 season, with the club referred to an independent commission.
Leicester, who are now in the Championship, were members of the Premier League when the alleged breach took place.
The Foxes have also been charged for allegedly failing to submit their audited financial accounts to the top flight.
In a statement, the Premier League said: ‘The Premier League has today referred Leicester City FC to an independent commission for an alleged breach of Profitability and Sustainability Rules (PSRs) and for failing to submit their audited financial accounts to the league.
Leicester City have been charged with an alleged breach of the Premier League’s PSR rules

Leicester’s alleged breach relates to the accounting period ending in the 2022-23 season
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‘The alleged breach relates to the assessment period ending season 2022-23, when the club was a member of the Premier League.
‘Leicester City were relegated to the EFL Championship prior to the introduction of the Premier League’s new Standard Directions, which prescribe a timeline within which PSR cases should be heard.
‘Therefore, the proceedings will be conducted in accordance with a timetable to be set by the independent commission, and its final decision will be published on the Premier League’s website.’
In response, Enzo Maresca’s side hit back at the top flight and outlined their shock at the timing of the Premier League’s announcement.
In a statement, they said: ‘Leicester City is surprised at the actions the Premier League has taken today.
‘The club is extremely disappointed that the Premier League has chosen to charge LCFC now, despite the club’s efforts to engage constructively with the Premier League in relation to the matters that are the subject of this charge, even though LCFC is not currently a Premier League club.
‘LCFC remains willing and eager to engage constructively with the Premier League and the EFL to seek the proper resolution of any potential charges, by the right bodies, and at the right time.
‘The club continues to take careful advice about its position and, if necessary, will continue to defend itself from any unlawful acts by the football authorities, should they seek to exercise jurisdiction where they cannot do so, as occurred earlier this year.’
The Foxes continued: ‘LCFC has repeatedly demonstrated its commitment to the P&S rules through its operating model over a considerable period, achieving compliance while pursuing sporting ambitions that are entirely credible given the consistent success that the club has achieved in that time, both domestically and in European competition.
‘As we continue to represent the club’s position, we will continue to fight for the right of all clubs to pursue their ambitions, particularly where these have been reasonably and fairly established through sustained sporting achievement.’

Leicester were relegated from the Premier League when the alleged breach took place

In response, Leicester hit back at the top flight and branded the timing of the announcement as ‘extremely disappointing’ (pictured – Foxes chairman Aiyawatt Srivaddhanaprabha)
The accounting period in question covers a four-year period, as opposed to the usual three, due to the two Covid-19 seasons being combined into one.
Leicester reportedly lost about £50m across those two campaigns, before they posted a club record loss of £92.5m in 2021-22, with clubs allowed to lose a maximum of £105m over the three-year cycle.
While the figure for 2022-23 has not yet been confirmed, another big loss was expected with Leicester dropping out of Europe, while they also went from eighth to 18th in the table.
Mail Sport had reported earlier this month how the Premier League were expected to charge Leicester with spending breaches over the 2020-23 accounting period.
However, the fate of Leicester’s charges will fall out of the new Standard Directions of the Premier League, which require cases to be dealt with in the same season they are charged.
This means Leicester will not be dealt a points deduction this season, but if they are promoted – with the Foxes currently 2nd – they could begin next season with a penalty if they are found guilty.

Enzo Maresca’s side will not be dealt a points deduction this season, but if they are promoted – with the Foxes currently 2nd – they could begin next season with a penalty if found guilty
The club are also subject to a separate financial probe by the EFL but Mail Sport also reported how Leicester will avoid being punished twice for the same spending breach.
This is despite the Foxes facing the prospect of breaching the allowable losses over the current campaign, with Championship clubs only allowed to lose £13m-per-season.
The Foxes become the latest club to fall foul of spending rules, with Everton deducted and Nottingham Forest both charged, before they were deducted six and four points respectively earlier this season.
Leicester, who are only behind top of the table Leeds on goal difference, return to action with a trip to Bristol City on Good Friday.
Source From: Football | Mail Online
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