Leicester City Football Club is potentially facing a significant points deduction for the upcoming season should they be found guilty of violating Profitability and Sustainability Rules (PSR).
The team, nicknamed the Foxes, was relegated to the Championship after a poor performance in the recent Premier League season.
This could mean they start the 2024/25 second-tier campaign already at a disadvantage.
Last week, the Premier League formally accused Leicester of breaching PSR by more than £17 million over a three-year period.
According to reports in the iPaper, Leicester could face a minimum penalty of 12 points if the charges are upheld.
English Football League (EFL) guidelines suggest a 12-point deduction for PSR breaches. Deductions are applied on a sliding scale for breaches under £15 million.
The Premier League is reportedly planning to argue for an even larger deduction, citing Leicester`s failure to submit their accounts on time in December.
A spokesperson stated this month that, following an Arbitration Tribunal’s jurisdictional decision, Leicester City FC has been referred to an independent Commission. The alleged breaches relate to the EFL Championship Profitability and Sustainability Rules (P&S Rules) for the 2023/24 Season, the club’s obligation to provide its Annual Accounts to the Premier League by December 31, 2024, and the club’s obligation to provide full, complete, and prompt assistance to the Premier League regarding their inquiries.
Both the Premier League and Leicester City declined to comment when contacted by the news outlet.
Leicester has recently announced the departure of 11 players from the club this summer.
Among those leaving are goalkeepers Danny Ward and Daniel Iversen, and club icon Jamie Vardy, all departing as their contracts expire.
The 38-year-old Vardy has surprisingly been linked with a potential free transfer move to Newcastle.
The former England international spent 13 years with Leicester, netting 200 goals across 500 appearances.
This past season, Vardy scored nine Premier League goals and contributed four assists.
Following the announcement of his departure, he has also been rumoured to be a target for Crystal Palace, Wolves, and Wrexham.
Marcus Bellamy