Leicester charged with new financial rules breach
Leicester City is facing potential penalties, including point deductions and fines, after being charged with violating financial rules set by the English Football League (EFL) and Premier League. The charges involve alleged financial rule breaches and failure to submit required financial accounts. An independent commission will review the charges, and any penalties could affect Leicester's future seasons in the Championship.
Key Facts:
- Leicester City has been charged with breaking financial rules by the English Football League and Premier League.
- The charges relate to the 2023-24 financial year when Leicester was in the Championship.
- Leicester might face a points deduction, which could impact their Championship season in 2025-26.
- The independent commission will also look into Leicester's failure to provide financial accounts by December 31, 2024.
- Leicester's reported financial losses include £19.4 million for 2023-24, £89.7 million for 2022-23, and a record £92.5 million up to May 2022.
- Premier League clubs cannot exceed losses of £105 million over three years, adjusted for time spent outside the top league.
- The Premier League has established jurisdiction over the case after a tribunal decision.