Premier League: Leicester City FC (Sky Bet Championship) accused of breaching financial regulations

Leicester City FC has been referred to an independent commission by the Premier League for an alleged breach of its Profitability and Sustainability Rules (PSR) and for failing to submit its audited accounts for the assessment period to the end of the 2022-23 season, following which the club was relegated to the Sky Bet Championship, announced the English League on 21/03/2024.

The losses authorised by the Premier League's financial regulations are capped at £105m (€122m) over the period that includes the 2022-23, 2021-22, 2020-21 and 2019-20 seasons (for these last two seasons, which were particularly disrupted by Covid-19, average EBIT is taken into account, with the possibility of deducting a number of investments in infrastructure, women's football and youth training in particular).

"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…