Tom Cannon Stoke City loan latest as Leicester City handed significant PSR update
The decision over whether hot-shot Tom Cannon remains at Stoke City for the rest of the season or is recalled by Leicester City remains in the balance.
But his parent club were handed a significant boost in their fight for Premier League survival this morning and good news on their finances, suggesting the meagre profit they would make from selling Cannon might no longer be such a concern.
The Republic of Ireland international has scored 11 times while on loan for the Potters, but such form has brought him to the attention of other clubs keen to buy - and it is understood the Foxes have a Wednesday deadline to decide what to do with the 22-year-old.
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Foxes boss Ruud van Nistelrooy admitted as much during his most recent press conference, declaring: “Tom’s situation is closely assessed. There are decisions to be made on that. It’s still a possibility (he stays at Stoke), but we’re looking at what is best for his situation and what is best for the club.”
However, the Premier League announced this morning that neither Leicester City nor any of their top-flight rivals have breached profitability and sustainability rules, meaning they also avoid potential points penalties for failing to adhere to stringent spending rules.
Cannon is reckoned to be worth up to £10m should he be sold in the January transfer window, a reasonable return on the £6m Leicester are thought to have paid Everton for his services in the summer of 2023, but not enough to make a significant dent to their potential PSR exposure.
In fact, it could be argued that a good second-half of the season at Stoke City could only make him a more valuable asset for Leicester when they come to assess their spending options come the summer, and they will need to remain vigilant.
Top-flight clubs can be charged by the Premier League for breaching a PSR limit of £105m in losses over three years - and Everton and Nottingham Forest both had points docked last season for doing so - but this is a rolling period so scrutiny of club finances will continue.
Promotion hopefuls Sheffield United are believed to be one of several clubs looking to loan Cannon for the second half of the season with an obligation to buy in the summer. Stoke have responded by recalling their own loan hotshot Nathan Lowe, who has bagged 18 goals and set up another seven in 30 appearances for Walsall in League Two.
