Leicester Initiates Legal Action Against Premier League for Financial Penalties

Leicester City has declared its intent to take legal action against the Premier League in response to recent financial allegations made against the club.

The club has been accused by the Premier League of violating the league's Profit & Sustainability Rules during their last three years in the league, and of failing to provide audited financial records.

Following these charges laid out by the Premier League, the English Football League (EFL) has imposed a transfer embargo on Leicester. As a result, the Foxes have announced their plans to sue both the Premier League and EFL.

According to a statement released by the club, 'LCFC has been forced to initiate two urgent lawsuits against the Premier League and the EFL. LCFC will demand that these cases are reviewed by an independent legal tribunal.

'The Club is committed to defending itself appropriately against these allegations, ensuring that any charges are evaluated in line with the relevant rules, by the right entities, at the appropriate time.

'Although LCFC would prefer for these proceedings to be public, allowing its fans and the global community to remain informed about the significant governance issues in football being discussed, the applicable rules mandate that these proceedings should remain confidential. Consequently, LCFC is unable to divulge further information about these proceedings at this moment.'

'We emphasise the Club’s stance that we will continue to advocate for the rights of Leicester City, and all teams, to strive towards their aspirations, especially when these have been justly and justifiably achieved through continuous sporting accomplishments.

'The Club notes that the EFL publicly announced at 4pm today [Friday] that LCFC has been subjected to a registration embargo due to its P&S rules. The EFL is cognisant of the fact that LCFC disputes the EFL’s authority to impose this restriction, describing it as constraining and untimely, especially when more than a quarter of the Club’s 2023/24 reporting period is still pending.'

It is understood by 90min that Leicester's financial predicament could result in the club parting ways with at least one key player this summer, and Manchester United has shown interest in midfielder Kiernan Dewsbury-Hall.