Leicester City say they are “surprised and disappointed” at being referred to an independent commission over an alleged breach of the Premier League’s Profit and Sustainability Rules.
The Foxes – who are currently second in the Championship after being relegated from the top flight last season – are alleged to have breached the Premier League’s financial rules in the four-year assessment period ending in 2022-23.
The Premier League confirmed Leicester had been referred to an independent commission regarding the matter on Thursday, as they became the third club charged with breaching in that period.
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Earlier this week, Nottingham Forest were handed a four-point deduction after being found to have overspent by £34.5million during that same period.
Everton are awaiting the outcome of their own charge, having already suffered a six-point deduction for breaching the rules in the period culminating in the end of the 2021-22 season.
In an angry statement issued on Thursday, Leicester said: “Leicester City is surprised at the actions the Premier League has taken today.
The Club has today released the following statement.
— Leicester City (@LCFC) March 21, 2024
“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.”
Under English Football League rules, Leicester are allowed to lose up to £83m over a three-year period including 2023-24, but reports earlier this month suggested they would exceed that limit.
In advance of that predicted breach, the EFL told Leicester to submit a detailed business plan which would help them return to compliance, but the Foxes took the matter to the independent Club Financial Reporting Panel, which found in their favour.
If Leicester are found to have breached the Premier League’s rules, which permit losses of £105m over any three-year assessment period, they could start the 2024-25 campaign with a hefty points deduction if they return to the top flight at the first time of asking.
