Relegated Premier League side Leicester City have been formally charged with alleged breaches of financial regulations during their 2023-24 campaign in the Championship.
The Foxes are accused of violating the English Football League’s (EFL) Profit and Sustainability Rules (PSR), and the Premier League has now referred the case to an independent commission. If found guilty, Leicester could face sanctions, including a possible points deduction next season.
A Premier League spokesperson said:
“Following an Arbitration Tribunal’s decision concerning jurisdiction, Leicester City FC has now been referred to an independent Commission for alleged breaches of the EFL Championship Profit and Sustainability Rules for the 2023/24 season, and for failing to provide full, complete, and prompt assistance during the Premier League’s enquiries.”
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The EFL also released a statement, confirming that the investigation was initiated following Leicester’s March 2024 financial submissions. Jurisdiction was passed to the Premier League after Leicester’s promotion to the top flight was confirmed at the end of the season.
Leicester responded with a statement of their own:
“The club intends to engage co-operatively in this matter now that the Premier League’s jurisdiction has been established for the period ending FY24 (financial year 2024).”
This is not the first time Leicester have faced scrutiny over financial rules. Earlier this season, they successfully appealed against Premier League charges relating to the 2022-23 season. The club argued the Premier League lacked jurisdiction as they were no longer in the top division when the alleged breach occurred, and an independent tribunal ruled in their favour.
“The club is pleased that it successfully defended the Premier League’s challenge to the Appeal Board decision in relation to the PSR assessment period ending FY23, which was the main focus of these proceedings,” Leicester said at the time.
The outcome of the latest charges now lies in the hands of the independent commission.
