Leicester City referred to independent commission by Premier League over financial rules breach | OneFootball

Leicester City have been referred to an independent commission by the Premier League for an alleged breach of financial rules during their 2023-24 season in the Championship.

The case centres on a suspected violation of the English Football League’s (EFL) Profitability and Sustainability regulations.

The Premier League was obligated to investigate following Leicester’s promotion back to the top flight last year.

The tribunal determined that the Premier League could not penalise Leicester for a separate alleged breach during the 2022-23 season.

The Foxes were relegated by the time that accounting period ended, but their conduct in 2023-24 under rules transferred from the EFL could be assessed.

Leicester face two further accusations – failing to provide financial accounts to the Premier League by December 31, 2024, and failing to offer full, complete and prompt cooperation during the investigation.

Leicester acknowledged the charges, stating: “The club intends to engage cooperatively in this matter now that the Premier League’s jurisdiction has been established for the period ending FY24.”

They declined to comment further due to the confidential nature of the proceedings.

The Premier League clarified that the jurisdiction remains valid even though Leicester are set to return to the Championship next season.

New rules introduced last month confirm that relegated clubs remain under Premier League oversight until they have fulfilled all PSR-related obligations for the relevant season.

Leicester’s latest financial accounts revealed a loss of £19.4 million for the 2023-24 season. That followed losses of £89.7m in 2022-23 and a club-record £92.5m in 2021-22.

Certain costs can be deducted from PSR calculations – such as investment in infrastructure and women’s football.

However, those figures raise concerns under EFL rules, which cap losses at £39m over three years.

By contrast, Premier League clubs can lose up to £105m over the same period, with adjustments for time spent outside the top flight.

The referral follows a failed attempt by the Premier League to revisit Leicester’s previous PSR charge.

The league had challenged a September 2024 appeal ruling that cleared Leicester over a 2022-23 breach, but the tribunal upheld the decision, even if it disagreed with its legal basis.

Leicester now await the commission’s findings, which could carry penalties including a fine or points deduction.