Leicester Premier League charge: Foxes lose appeal against PSR charge

Leicester’s appeal against the Premier League’s profit and sustainability tax has been rejected by an independent panel.

The commission ruled the top flight can punish the Foxes for an alleged breach for the three seasons leading up to 2022-23 after they were charged in March.

Leicester appealed against the charge as they were in the English Football League (EFL) at the time of the issue and deemed the Premier League to have no jurisdiction, being relegated in 2023, but the panel ruled that English football’s top flight could continue to pursue them. .

Leicester are appealing against the latest ruling.

A statement said: “LCFC notes today’s publication of the Premier League Commission’s decision. The club is disappointed by the decision, which does not appear to reflect the wording of the Premier League Regulations, and has lodged an appeal.”

Leicester, who returned to the Premier League at the first attempt by winning the Championship last season, were charged in March for an alleged breach of the Premier League’s PSR rules.

At the time, the club said they were “surprised” and “disappointed” by the timing of the Premier League action, while they were not in the top flight.

The club said it would “defend itself” “against any unlawful acts by the football authorities, should they attempt to exercise jurisdiction where they cannot do so”.

Their latest accounts for the year ending 30 June 2023 confirmed a loss of £89.7m, taking their total losses for the previous three Premier League campaigns to over £215m.

The club will be able to claim “additions”, such as money spent on football infrastructure, against this figure.

In the 12 months to May 2022, they lost a club record £92.5m. A year earlier, in the season they lifted the FA Cup for the first time, the club reported a pre-tax loss of £33.1m.

Top-flight rules allow clubs to make losses of £105m over three years, or £35m per campaign, before facing penalties.