Leicester City charged with breach of Premier League Profit & Sustainability rules

Leicester City are the latest club to be charged with breaching Premier League Profit & Sustainability rules, having exceeded the threshold for permitted losses with their latest set of accounts.

Under the regulations, intended to stop teams from spending beyond their means, clubs cannot make losses greater than £105m over a three-year rolling period. The charge relates to the three years up to and including 2022/23, when the Foxes were relegated from the top flight.

“Leicester City is surprised at the actions the Premier League has taken today,” a statement read.

“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 willing and eager to engage constructively with the Premier League and the EFL to seek the proper resolution of any potential charges, by the right bodies, and at the right time. The club continues to take careful advice about its position and, if necessary, will continue to defend itself from any unlawful acts by the football authorities, should they seek to exercise jurisdiction where they cannot do so, as occurred earlier this year.

“LCFC has repeatedly demonstrated its commitment to the P&S rules through its operating model over a considerable period, achieving compliance while pursuing sporting ambitions that are entirely credible given the consistent success that the club has achieved in that time, both domestically and in European competition. As we continue to represent the club’s position, we will continue to fight for the right of all clubs to pursue their ambitions, particularly where these have been reasonably and fairly established through sustained sporting achievement.

“The club thanks its supporters for their understanding in this matter and for their continued support for our team, whose success on the pitch during the final weeks of the season remains our primary focus.”

Everton have already fallen foul of P&S rules, but at least saw a ten-point reduction reduced to six on appeal. But there is a second outstanding charge hanging over the Toffees and one for Nottingham Forest.