Leicester faces accusations of not submitting their audited financial records for the 2022/23 season to the Premier League. Nottingham Forest also received charges for violating the Premier League’s financial regulations and were penalized with a four-point deduction earlier this week.
The Premier League has brought charges against Leicester City for an alleged violation of the league’s Profitability and Sustainability Rules (PSR). The club is accused of failing to submit their audited financial accounts to the league for the 2022/23 season. This alleged breach pertains to the assessment period ending in Season 2022/23, when Leicester City was a member of the Premier League.
Due to Leicester City’s relegation to the EFL Championship prior to the implementation of the Premier League’s new Standard Directions, which establish a timeline for PSR cases, the proceedings will follow a timetable set by an independent Commission. The Commission’s final decision will be published on the Premier League’s website.
Leicester’s accounts for the previous season are expected to reveal they exceeded the £105m losses permitted over the past three seasons. Similar breaches by Everton and Nottingham Forest resulted in charges from the Premier League, with Forest receiving a four-point deduction and Everton facing the possibility of future points deductions.
Although it is permissible for a Premier League rule violation to lead to a Championship club’s punishment, Leicester will not face a points deduction in the current season.