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Following their Premier League promotion, Leicester now face the scary possibility of starting the next season with a points deduction.
All of this started in the 2022-23 fiscal year when they broke the Premier League’s Profitability and Sustainability Rules.
Leicester are now in danger of a heavy points punishment after an impartial panel sided with the Premier League; thus rejecting the club’s appeal and concerns over jurisdiction.
Allegedly, they did not file their financial reports promptly, which led to their referral to an independent panel in March.
The team lost more than the Premier League’s permitted loss limit of $134 million over three years; including $160 million in losses during the previous two seasons.
The Foxes revealed a $115 million deficit for the 2022–23 fiscal year in April; raising their three-year total to almost twice the allowable limit.
Leicester’s primary defense centered on jurisdiction, arguing that the Premier League could not sanction a club no longer in the competition, as they were in the Championship last season.
However, the independent commission dismissed this argument. A Premier League spokesperson stated, “An independent Commission has dismissed a challenge by Leicester City FC that it has no jurisdiction to consider an alleged breach of Profitability and Sustainability Rules (PSRs).”
Leicester City face starting the season on minus points.
What did club say?
Following the ruling, the King Power Stadium outfit expressed disappointment and announced plans to appeal. The club’s statement read, “LCFC notes the publication today of the decision of the Premier League Commission. The Club is disappointed with the decision, which does not appear to reflect the wording of the Premier League’s Rules, and has lodged an appeal.”
The Premier League has previously handed out points deductions for PSR breaches. Everton…
[ad_2]Source link : https://worldsoccertalk.com/news/10-or-more-leicester-face-heavy-points-fine-next-epl-season/
Author : Martina Alcheva
Publish date : 2024-07-07 17:05:04
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