Leicester City were promoted back to the Premier League at the first time of asking, but the club is at risk of beginning the new campaign on a negative points tally
Leicester City have been dealt a fresh blow in their hopes to begin the upcoming Premier League campaign on minus points, with an independent commission ruling in favour of the league in relation to the Foxes’ PSR breach.
The club were referred to an independent commission back in March amid accusations of failing to submit financial accounts for the 2022-23 financial period on time. Over the previous two seasons, they had recorded a loss of £125million, and Premier League clubs losing more than £105m of ‘allowable losses’ permitted over a three-year period have been found in breach of the competition’s rules.
In April, they released figures showing a loss of £89.7m for the 2022-23 accounting period. That takes the club’s three-year figure to more than double the Premier League’s £105m cap.
Leicester have said in a statement that they will appeal the latest decision. Previously, the club had argued the rules in question could not apply to a team no longer in the Premier League, with the Foxes in the second tier last season.
“An independent Commission has dismissed a challenge by Leicester City FC that it has no jurisdiction to consider an alleged breach of Profitability and Sustainability Rules (PSRs),” a statement from a Premier League spokesperson read. However, the club laid out its intention to appeal.
Leicester’s argument surrounded concerns over jurisdiction, rather than the nature of any breach. They had attempted to argue the Premier League could not sanction clubs no longer in the competition, and have since responded to the latest ruling.
“LCFC notes the publication today of the decision of the Premier League Commission,” a club statement, published on Thursday, read. “The Club is disappointed with the decision, which does not appear to reflect the wording of the Premier League’s Rules, and has lodged an appeal.”
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Two Premier League clubs were handed points penalties during the 2023-24 season in relation to breaches. Nottingham Forest were docked four points, losing an appeal against the punsihment, while Everton were docked a total of eight points following two separate breaches.
Since earning promotion back to the Premier League, Leicester have been forced into a chance of manager. Championship-winning boss Enzo Maresca has moved to Chelsea, with Steve Cooper – most recently at Nottingham Forest – taking his place.
“Any person who loves football can only look with great respect upon how much this club has achieved in recent years,” Cooper said following his appointment. “The Premier League title of 2016 and the FA Cup of 2021 have demonstrated what’s possible for a united club. As the new manager, I don’t take that legacy lightly.
“My job will be to build on those achievements and to bring everyone along – players, staff and fans. Great challenges lie ahead but I get the feeling that Leicester thrives in these moments. I know we will be ready.
“The work starts now on building towards a successful Premier League season. Our aim is to once again make Leicester City an established Premier League club, and one that can look forward to the future with pride and ambition.”
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