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Leicester City Football Club has been referred to an independent commission by the Premier League for an alleged breach of profitability and sustainability rules.
The club, currently second in the Sky Bet Championship, could potentially face a points deduction if found guilty of breaking the financial rules.
In a statement released by the Premier League, it was revealed that Leicester City has been referred to the independent commission for failing to submit their audited financial accounts and for an alleged breach of profitability and sustainability rules.
The alleged breach is said to have occurred during the assessment period ending in the 2022/23 season when the club was a member of the Premier League.
Leicester City’s relegation to the EFL Championship prior to the introduction of the Premier League’s new standard directions means that the proceedings will be conducted according to a timetable set by the independent commission.
The final decision will be published on the Premier League’s website. Leicester City is also facing a financial investigation from the EFL.
In response to the Premier League charges, the club issued a statement expressing surprise and disappointment at the actions taken.
The club remains willing to engage constructively with the Premier League and the EFL to seek a proper resolution of any potential charges.
Leicester City has repeatedly demonstrated its commitment to financial compliance and will continue to defend itself from any unlawful acts by the football authorities, should they seek to exercise jurisdiction where they cannot do so.
This article was updated 1 month ago