Leicester City charged by Premier League for breaching FFP rules

Rajarshi has been part of Khel Now since 2022, and he covers world football.

Published at :March 22, 2024 at 4:32 PM

Modified at :March 22, 2024 at 4:33 PM

(Courtesy : Leicester City)

Leicester City are currently second in the EFL Championship

The Premier League has accused Leicester City of allegedly violating financial standards, which has raised concerns about a possible point deduction the following season.

After the team was accused of violating the profitability and sustainability rules (PSR) in each of their three most recent campaigns in the top flight, the league submitted the team to an independent disciplinary panel. Premier League teams are allowed to lose up to £105 million in a three-year period.

Two years after capturing the FA Cup and earning their second consecutive fifth-place finish, Leicester were relegated to the lower leagues last season. The English Football League may also punish the Championship promotion chasers for the time frame that covers the current season.

If found guilty, the punishment can be points or a fine. If the Foxes fail to qualify for the Premier League again, the EFL is believed to have the authority to enforce any penalties issued by the Premier League.

The English top division has penalised the club for neglecting to turn in their most recent audited financial statements for the 2022–2023 season. When Leicester releases its financial statements at the end of this month, a significant loss is anticipated.

Leicester, the fourth team that the Premier League has been penalised for violating its PSR regulations, announced the following in a statement:

“Extremely disappointed at the timing of the charge” and added that the club “will continue to defend itself from any unlawful acts by the football authorities, should they seek to exercise jurisdiction where they cannot do so”.

Following an expression of concern over their anticipated 2023–24 accounts by the league’s independent club financial reporting unit, the Foxes were enraged at the EFL’s attempt to force them to adopt a business plan in November.In a statement issued on Thursday night, the Premier League stated:

“The Premier League has today referred Leicester City FC to an independent commission for an alleged breach of profitability and sustainability rules and for failing to submit their audited financial accounts.”

The statement went on to explain that Leicester’s relegation occurred prior to the introduction of revised rules during the league’s annual general meeting at the conclusion of the previous season, which is why the referral was delayed.

“Leicester were relegated to the 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.”

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Rajarshi Shukla

After earning a bachelor's degree in mass media, Rajarshi began his career as a sports writer in 2019, driven by his passion for sports journalism. He has been working in the field for over six years. A devoted fan of Lionel Messi and Barcelona, Rajarshi has been involved in sports since childhood. Before turning his focus to journalism, he even represented his college at the state level. Along with covering football, he enjoys playing the game, watching movies, and experimenting with new recipes in his spare time, as cooking is one of his favorite hobbies.

Leicester City charged by Premier League for breaching FFP rules

Leicester City are currently second in the EFL Championship

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