Leicester City charged by Premier League over breach of financial rules

Leicester City have been charged by the Premier League and referred to an independent commission over an alleged breach of financial rules during the 2022-23 season.

The Premier League claims Leicester, who were relegated to the Championship at the end of the campaign, failed to submit their audited financial accounts.

“Leicester City were relegated to the EFL Championship prior to the introduction of the Premier League's new Standard Directions, which prescribe a timeline within which PSR cases should be heard,” the league said.

“Therefore, the proceedings will be conducted in accordance with a timetable to be set by the independent commission, and its final decision will be published on the Premier League's website.”

Leicester are second in the Championship, equal on points with leaders Leeds United, as they chase promotion back to the Premier League.

The club immediately released a statement in response to the allegations, saying they plan to “continue to fight for the right of all clubs to pursue their ambitions”.

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

Nottingham Forest were deducted four points after being found to have broken Premier League financial regulations, which saw them drop into the relegation zone.

Everton, meanwhile, saw an initial 10-point deduction for breaching profitability and sustainability rules reduced down to six following an appeal, but also face a second case.