July 5, According to the British local media “Mirror”, the Premier League’s independent commission recently rejected Leicester City’s appeal against their alleged violation of the PSR (Profitability and Sustainability Rules), the team is likely to start the new season with negative points.
In March this year, Leicester City was accused of failing to submit its financial statements for 2022/23 on time, and the charge was referred to the Premier League’s independent commission body. In the past two seasons, Leicester City has lost £125 million, which exceeded the Premier League club’s maximum standard of £105 million loss in three years, and was therefore found to have violated the rules.
In April this year, Leicester City’s released data showed a loss of £89.7 million during 2022-23. This made the club’s three-year losses more than double the Premier League’s £105 million limit.
In a statement, Leicester City said they would appeal the latest ruling. A Premier League spokesperson said in a statement: “The independent commission dismissed Leicester City Football Club’s appeal, saying it had no power to hear the alleged breach of profitability and sustainability rules (PSR).” However, the club has indicated its intention to appeal.
In a statement released on Thursday, Leicester City wrote: “Leicester City Football Club notes the decision announced by the Premier League Commission today. The Club is disappointed with this decision as it appears to fail to reflect the wording of the Premier League rules, and the Club has filed an appeal.”
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