Leicester City’s hopes for a smooth start to the upcoming Premier League season have taken a hit, as an independent commission has ruled against them in their PSR breach case.
The club was referred to the commission in March for failing to submit financial accounts for the 2022-23 period on time. Over the past two seasons, they recorded a loss of £125 million, exceeding the Premier League’s allowable loss limit of £105 million over three years.
In April, Leicester reported a loss of £89.7 million for 2022-23, bringing their three-year total to more than double the permissible limit.
In response to the ruling, Leicester announced plans to appeal. Previously, the club argued that the rules should not apply to teams no longer in the Premier League, as they were in the second tier last season.
An independent commission dismissed Leicester’s challenge to its jurisdiction over the PSR breach. Leicester expressed disappointment, stating that the decision does not align with the Premier League’s rules and that they will appeal.
Leicester’s argument centered on jurisdiction rather than the breach itself. They contended that the Premier League cannot sanction clubs no longer in the competition. Following the latest ruling, Leicester responded by reaffirming their intention to appeal.
The club has recently appointed Steve Cooper as their new manager after Championship-winning boss Enzo Maresca moved to Chelsea. Cooper expressed respect for Leicester’s recent achievements, including the 2016 Premier League title and the 2021 FA Cup. He emphasized his commitment to building on those successes and leading the club through upcoming challenges.
Leicester aims to reestablish itself as a Premier League club and look towards the future with pride and ambition.
