Khel Now logo
HomeSportsOLYMPICS 2024Live Score

Viral Footy News

Leicester City 'find new loophole' in Premier League's Financial Fair play rules: Report

Published at :March 7, 2024 at 4:58 PM
Modified at :March 7, 2024 at 4:58 PM
Post Featured Image

(Courtesy : Leicester City)

Rajarshi Shukla

The League’s new rules will see clubs give their financial statements on December 31

The revelation that Leicester City have escaped punishment this season by pretending to be both a Premier League and an EFL team at the same time has increased scrutiny of football’s spending regulations.

Despite being in danger of violating their Profit and Sustainability rules [PSR] for 2022–2023 due to their relegation at the end of that season, Mail Sport has revealed that Leicester aren’t complying with the Premier League’s fresh accelerate system for possible wasting violates this campaign.

Furthermore, they have escaped being subject to an EFL spending strategy this year because they were a top-flight club the previous year.

In an unprecedented turn of events, Leicester informed the EFL in November that they were exempt from their regulations because they were a Premier League team the previous season. However, when other clubs who were in danger of a PSR breach were required to submit their accounts the following month, Leicester was not compelled to follow Premier League rules.

The Leicester situation seems to highlight a significant weakness in the contentious football spending regulations, which the team has taken advantage of to increase their chances of making it back to the Premier League this year.

While Everton and Nottingham Forest are both confronting point reductions for the current campaign for squandering during the same period, Leicester could still be charged for breaking the Premier League’s £105 million loss limits from the previous season. However, any punishment and points subtracting will carry over to the following season and would not affect their chances of promotion.

The oddity resulted from concerns that Everton escaped a points deduction that would have sent them to the Championship the previous season, but the Premier League did not apply the new regulations to Leicester. Last summer, the league created new guidelines for handling possible PSR situations.

In order for any disciplinary case to be resolved and any punishments to be implemented by the conclusion of the season, teams that run the danger of a PSR breach are required by the new regulations to provide their financial statements on December 31, three months ahead of their competitors.

For more updates, follow Khel Now on Facebook, Twitter, and Instagram; download the Khel Now Android App or IOS App and join our community on Telegram.