Leicester City Faces Charges for Breaking Premier League Profit & Sustainability Regulations

22 March 2024 1714
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Leicester City has become the most recent team to face charges for violating the Profit & Sustainability rules of the Premier League. The charges come as the team's latest financial records show losses exceeding the allowed limit.

The regulations, enacted to prevent teams from overspending, do not allow clubs to incur losses greater than £105m over a rolling three-year period. The accusation against Leicester City pertains to the three years leading up to and including the 2022/23 season, during which the Foxes were demoted from the Premier League.

In a statement, Leicester City expressed dismay at the Premier League's actions. "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 charge, even though LCFC is not currently a Premier League club.

"LCFC remains ready and willing to engage constructively with the Premier League and the EFL to reach an appropriate resolution of any potential charges, by the correct authorities, and at an appropriate time. If necessary, the club continues to receive careful advice about its position and will continue to defend itself from any unlawful acts by the football authorities."

"LCFC has consistently proven its commitment to the P&S rules through its operating model over a long period, achieving compliance while pursuing credible sporting ambitions. As the club's representatives, we will continue to advocate for the right of all clubs to pursue their ambitions, particularly when they have been reasonably and fairly established through sustained sporting achievement."

The team is grateful to its fans for their unwavering support during this time and has given assurances that their primary focus remains the club's on-pitch success in the closing stages of the season.

Everton previously violated the P&S rules, resulting in a ten-point reduction which was eventually reduced to six points on appeal. However, they, along with Nottingham Forest, are still under investigation for a second charge.