The Premier League is set to issue complaints on Tuesday to any clubs found in breach of its profitability and sustainability rules (PSR), which could result in a points deduction.

However, Chronicle Live understands Newcastle United are not expecting a punishment from the Premier League, despite sailing close to the wind before offloading both Elliot Anderson and Yankuba Minteh - for a combined £68m - just before the 2024 PSR deadline passed. The Magpies have spent big in recent seasons and, despite raising revenues, have posted combined losses totalling £121m for the 2021/22 and 2022/23 years.

As reported by Chronicle Live on Monday morning, Newcastle are expected to post a small profit for the 2023/24 financial period after increasing their revenue streams through additional sponsorship deals, broadcasting income and lucrative European football. The north east outfit's spending capabilities will also grow this summer when the £73m loss from 2021/22 drops off the rolling PSR cycle.

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However, there has been speculation that Leicester City may face charges from the league, but neither party has commented on the matter. And the Press Association says sources close to Chelsea's ownership are highly confident of their compliance, despite significant transfer spending since the 2022 buyout by a consortium including Todd Boehly and Behdad Eghbali. Everton and Nottingham Forest also believe they are compliant.

Both clubs were charged last January with breaching PSR, which stipulates that clubs are in breach if they exceed permitted losses of £105million over three seasons, with these caps smaller for any seasons spent outside the Premier League. Last season, Everton were docked a further two points, and Forest four, for breaches within the three-year cycle ending in 2022.

Everton had also previously been docked 10 points in November 2023 for a PSR breach for the period ending with their 2021-22 accounts, a sanction which was reduced to six points on appeal last February. Clubs are required to hand in their finance reports by December 31, with any complaints to be issued to clubs by the league within 14 days.

And there has been speculation that Leicester might be in violation of the rules this time around. They were charged with a PSR breach concerning their 2022-23 accounts in March of the previous year, but an appeal hearing in September determined that the Premier League had no jurisdiction over the club, as they had been relegated to the EFL by the end of the 2022-23 accounting period.

The Premier League's argument at the time was that Leicester had incurred a loss of £129.4m over the three seasons leading up to and including 2022-23. Investment in infrastructure, academies, charity foundations, and women’s football are all elements that can be considered ‘add backs’ in a club’s PSR calculation and do not contribute towards the £105m loss figure.

Insiders close to Chelsea, the PA news agency claims, maintain that they have adhered to all Premier League regulations and are confident of compliance. PA reported in September that the sale of two hotels to a company associated with the club’s owners had been approved by the Premier League.

The club has also sold the women’s team to the club’s parent company, a transaction that is also subject to Premier League scrutiny. The current regulations allow profit from the sale of ‘fixed tangible assets’ to associated parties to be included in a club’s revenue calculation, provided those sales are deemed to have been done for fair market value.

A bid to shut this loophole did not secure the necessary 14-club majority at the league's annual general meeting last June, as merely 11 clubs voted for it. Last August, Premier League chief executive Richard Masters expressed his support for clubs attempting to "find an angle" to gain a competitive advantage over their competitors, provided they abide by the rules.

Despite reporting losses of £113.2m for the year ending June 30, 2024 in September last year, Manchester United remain optimistic about their compliance when all factors are considered.