February 6 – Ten years on from the most improbable Premier League triumph in modern football history, and just five years removed from lifting the FA Cup, Leicester City now find themselves staring at the trapdoor of relegation from the Championship after being docked six points by the English Football League for breaching financial rules.
The EFL’s sanction takes place with immediate effect, sending the Foxes from 17th to 20th in the table. Level on points with West Bromwich Albion, who sit in the relegation zone on goal difference.
This latest sanction stems from breaking profit and sustainability rules (PSR) covering the three seasons up to 2023–24, charges originally brought by the Premier League before Leicester’s relegation handed jurisdiction to the EFL. The club described the decision as “disproportionate”.
“While the commission’s findings significantly reduced the unprecedented scale of the sanction originally sought by the Premier League, the recommendation remains disproportionate and does not adequately reflect the mitigating factors presented,” Leicester said, adding that the potential impact on their sporting ambitions “cannot be overstated.”
The club reported losses of £92.5 million in 2022, £89.7 million in 2022–23, and £19.4 million in the most recent accounts. The losses broke the permitted financial limits by £20.8 million over the three-year assessment period. The club was also found to have breached rules by not providing their annual accounts to the Premier League by the required Dec 31, 2024 deadline.
Leicester has paid the price of gambling on staying with the elite and then trying to rejoin the top table with a disastrous transfer policy and unsustainable wages.
The Foxes are currently on a four-game winless streak, with interim boss Andy King preparing to lead them at Birmingham City this weekend.
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