In regard to the recently disclosed data, the Premier League accused the team of violating the competition’s profitability and sustainability regulations (PSR) last month. The Foxes are presently putting in bids to get promoted back to the top division on their first try.”After a sustained period of growth and success for the club during the last decade, the 2022–23 season was a significant setback, the consequences of which will be felt for some time,” stated Susan Whelan, chief executive of Leicester. Now, we have to concentrate on rebuilding and trying to get back into the Premier League and establish ourselves again.
Considering that we had finished fifth, fifth, and eighth in the Premier League the three seasons before, our goals and related spending for 2022–2023 were completely fair. A season of such marked underperformance on the field, however, presents financial challenges for a club like ours, whose consistent sporting achievements have justified the levels of investment required to compete with the most established clubs and pursue our ambition. This is especially true when considering the profitability and sustainability rules of the game today.
“The club can rebuild with certainty and confidence thanks to Khun Aiyawatt, the Srivaddhanaprabha family, and King Power International’s long-term and continuous financial security and commitment.” We are incredibly appreciative of the faith and support shown by our supporters, whose dedication and perseverance fuel our goal of getting Leicester City back to the competitive level that we all desire.
In response to the Premier League’s charges against them, the EFL imposed a transfer ban on Leicester and launched “urgent legal proceedings” against the regulatory authorities.
The club said in a statement on February 22 that “Leicester will be seeking that each of these proceedings is determined by an appropriate and fully independent legal panel.”
Everton and Nottingham Forest have been hit with point deductions as a result of Premier League PSR charges against them. Leicester stated that they “remains engaged in a confidential process with the Premier League and the English Football League regarding the club’s profitability and sustainability calculations” when they released their financial data.
“The club is committed to making sure that any accusations made against it are fairly and appropriately handled by the appropriate bodies at the appropriate time, in compliance with the relevant regulations.
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