Leicester City have been referred to an independent commission by the Premier League for an alleged breach of financial rules during their previous seasons in the top flight.
The Foxes – currently second in the Championship and fancied to go back up to the Premier League – could face a points deduction if found to have broken the financial regulations.
The club has been accused of breaching profit and sustainability rules (PSR) and failing to submit audited finances.
“The alleged breach relates to the assessment period ending season 2022/23, when the club was a member of the Premier League,” said a statement from the 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.”
Leicester, who also face a financial investigation from the EFL, issued a statement following the Premier League charges defending the club’s position.
“Leicester City is surprised at the actions the Premier League has taken today,” the club said.
“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.”
Nottingham Forest were deducted four points after being found to have broken Premier League financial regulations, which saw them drop into the relegation zone.
Everton, meanwhile, saw an initial 10-point deduction for breaching profitability and sustainability rules reduced down to six following an appeal, but also face a second case.
Brendan
Roar Pro
In the edited words of Homer Simpson: “So, Leicester City, it seems that the fox has been caught by the very person that was trying to catch him!”
Leon
Roar Rookie
I don't for one minute think Leicester City has willfully flouted any regulations though at the end of the day the lawyers will determine the legalities and what is what. More likely they have been like an oil tanker at sea, unable to stop on command, and drifting to a standstill in whatever part of the ocean it ends up in A few things stand out to me: One is that there was a rule change after Leicester City were relegated. Which pertains to one of the matters at hand. The rules are evolving. Another is that the Championship has it's own rules. Leicester could be damned if they go up and damned if they stay down. Associated with that is that the handling of promotions and relegation has not been worked out yet, and is rendered all the more difficult due to the different jurisdictions of the two competitions. Lastly, there is the overall complexity of the regulations themselves. It seems very much a matter for the lawyers and certainly beyond my pay grade. The offside rule is simple by comparison. Whilst most agree there needs to be financial integrity, what supporters and club members do not want to see are opaque and legalistic points of law pursued through the courts undermining the very integrity of the competition they seek to protect. We do not want hard won points totals determined in the court room rather than on the field. At the end of the day, these regulations may further widen the gap between rich clubs and poor which is precisely the opposite of what is needed. This is all the more frustrating for fans when fat cat clubs are perceived to flout the rules with impunity. A shout out to Everton fans here. In the case of Leicester City whose four game Championship points margin has already been eroded to nothing, recent form would indicate promotion back to the EPL is not guaranteed. It is very much wait and see first which division Leicester are in in season 2024-25. Watch This Space!