Leicester City will avoid a points deduction in the 2024-25 Premier League season after successfully appealing against an alleged breach of Premier League Profitability and Sustainability (PSR) rules, the club announced on Tuesday.
The PSR rules prohibit Premier League teams from exceeding losses of £105 million (approximately $137.7 million) over a three-season period. The Foxes, who were relegated to the EFL Championship after the 2022-23 campaign, faced the prospect of a points deduction upon their return to the top flight.
“Leicester City wishes to emphasise the finding of the Appeal Panel that, when considering the wording which is actually used in the Premier League rules, the club did not breach the Premier League PSRs for the assessment period ending 30 June 2023,” the club stated in a press release.
In March, the Premier League referred Leicester to an independent commission for allegedly breaching PSR regulations. The club challenged the commission’s jurisdiction, but their initial appeal was dismissed. Undeterred, Leicester continued to contest the ruling, refusing to accept a points deduction similar to those faced by Everton and Nottingham Forest for rule violations in the Premier League.
“Leicester City welcomes the Appeal Board’s comprehensive decision, which supports our consistently stated position that any action against the Club should be pursued in accordance with the applicable rules,” the club affirmed in their Tuesday statement.
The Premier League expressed its surprise and disappointment at the appeal’s outcome. “The Appeal Board’s decision effectively means that, despite the club being a member of the League from Seasons 2019/20 to 2022/23, the League cannot take action against the club for exceeding the relevant PSR threshold in respect of the associated accounting periods,” the league said in a statement.
Leicester City’s successful appeal not only spares them a potentially damaging points deduction but also sets a significant precedent regarding the enforcement of financial regulations within the Premier League. As the Foxes prepare for the upcoming season, the club and its supporters can look forward to focusing solely on on-pitch performances.
Reference(s):
cgtn.com
