Leicester charged by Premier League over alleged breach of Profitability and Sustainability Rules | Football News

by TexasDigitalMagazine.com

The Premier League has charged Leicester City over an alleged breach of the league’s Profitability and Sustainability Rules (PSR).

A Premier League statement read: “The Premier League has today referred Leicester City FC to an independent Commission for an alleged breach of Profitability and Sustainability Rules (PSRs) and for failing to submit their audited financial accounts to the League.

“The alleged breach relates to the assessment period ending Season 2022/23, when the club was a member of the Premier League.

“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.

“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.”

Sky Sports reported on Tuesday that Leicester’s accounts covering last season – which will be made public later this month – are expected to show they exceeded the £105m losses permitted over the previous three seasons.

Similar breaches by Everton and Nottingham Forest have been met with Premier League charges, with Forest now hit with a four-point deduction and another possible points deductions for Everton to follow.

However, even though it is within the rules for a Premier League rule break to lead to a club being punished in the Championship, Leicester will not face a points deduction this season.

Leicester ‘extremely disappointed’ in PL timing

Leicester say they are “willing and eager” to engage with the Premier League and EFL for a resolution, but expressed their shock at the timing of the charge.

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

More to follow…

This is a breaking news story that is being updated and more details will be published shortly. Please refresh this page for the latest updates.

Sky Sports brings you live updates as they happen. Get breaking sports news, analysis, exclusive interviews, replays and highlights.

Sky Sports is your trusted source for breaking sports news headlines and live updates. Watch live coverage of your favourite sports: Football, F1, Boxing, Cricket, Golf, Tennis, Rugby League, Rugby Union, NFL, Darts, Netball and get the latest transfers news, results, scores and more.

Visit skysports.com or the Sky Sports App for all the breaking sports news headlines. You can receive push notifications from the Sky Sports app for the latest news from your favourite sports and you can also follow @SkySportsNews on Twitter to get the latest updates.

Source link

You may also like