March 21, (THEWILL)- The English Premier League has taken action against Leicester City FC, referring the club to an independent commission over an alleged breach of financial regulations during their last three seasons in the top flight. A statement released on Thursday, confirmed the alleged breach relates to the profitability and sustainability rules for the 2022/2023 campaign when Leicester were still an EPL club.
Despite currently sitting second in the Championship as they push for an immediate return to the top division following relegation last season, the Foxes could face a potential points deduction if found guilty of breaking the financial rules. The proceedings will follow a timetable set by the independent commission, with the final decision to be published on the EPL website.
The Foxes have yet to make their accounts for the 2022/2023 EPL season public. However, reports indicate the club lost £92.5 million in the 12 months up to May 2022 and a further £33.1m pre-tax loss the previous year, potentially exceeding the League’s allowed £105m loss over three years.
The English Football League, which governs the divisions below the EPL, is also investigating Leicester’s finances. In a statement, the club expressed disappointment at the EPL’s decision to charge them despite not being a current top-flight member and their efforts to engage constructively. Leicester vowed to defend themselves against any unlawful actions by the authorities.
This development follows recent points deductions for fellow EPL clubs Nottingham Forest and Everton for breaching financial regulations, highlighting the increasing scrutiny on club finances in English football.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
