For allegedly breaking profitability and sustainability rules during their last three seasons in the top division, championship club Leicester have been referred to an independent commission by the Premier League.
Leicester, who are now second in the Championship as they seek a quick return to the Premier League following their relegation last season, might face a points deduction if financial regulations are found to have been violated.
“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,” a statement said on Thursday.
It further reads, “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 before 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’s accounts for their last Premier League season have not been made public. The Foxes lost £92.5 million ($117 million) in the year to May 2022, following a pre-tax loss of £33.1 million the previous year.
