Leicester City has been charged by the Premier League for allegedly breaking spending rules during their last three seasons in the top flight. The club has been referred to an independent commission for breaching profit and sustainability rules (PSR) and failing to submit audited finances. If found guilty, the club could face a points deduction.
The Foxes are also under investigation by the English Football League (EFL) for separate financial issues. Leicester, relegated at the end of last season, expressed surprise and disappointment at the timing of the Premier League's actions, especially since the club is no longer in the top flight.
Leicester stated they would defend themselves from any unlawful acts by the football authorities and are willing to engage constructively with the Premier League and the EFL to seek the proper resolution of any potential charges.
The club's accounts for their last season in the Premier League have not been made public, but in the 12 months up to May 2022, they reported a club record loss of £92.5 million. The Premier League permits clubs to make losses of £105 million over a three-year period before facing sanctions.
Leicester is currently second in the Championship, and any penalty this season would have significant implications in the promotion race. However, with just over six weeks until the end of the Championship campaign and potential appeals to be considered, it is unlikely that the situation will be resolved by then. The case could follow a similar timescale to Everton's first charge, which took several months to conclude.
Depending on the outcome of the investigation and any potential punishment, Leicester could start next season's Premier League season on minus points if they are promoted.
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