Leicester City is facing the prospect of a significant points deduction for the upcoming season should they be found guilty of breaching financial rules.
The Foxes were relegated back to the Championship following a challenging Premier League campaign.
This means they could begin the 2024/25 season in the second tier at a disadvantage.
The Premier League recently brought charges against the club, alleging breaches of Profitability and Sustainability Rules (PSR) totaling over £17 million across a three-year period.
According to reports, Leicester could face a MINIMUM 12-POINT penalty if the allegations are substantiated.
EFL guidelines typically mandate a 12-point deduction for a PSR breach.
While deductions can be applied on a sliding scale for breaches below £15 million, the Premier League is reportedly arguing for a harsher penalty.
Part of the argument for a larger deduction stems from Leicester`s alleged failure to submit their accounts on time last December.
A spokesperson confirmed earlier this month that, following an Arbitration Tribunal`s decision, Leicester City FC has been referred to an independent Commission for alleged breaches of the EFL Championship Profit and Sustainability Rules for the 2023/24 Season.
The spokesperson also highlighted "the club’s obligation to provide its Annual Accounts to the Premier League by 31 December 2024, and the club’s obligation to provide full, complete and prompt assistance to the Premier League in response to the League’s inquiries."
Both the Premier League and Leicester declined to offer further comment on the matter to the press.
In related news, Leicester has announced that 11 players will be departing the club this summer.
Notable players leaving upon the expiry of their contracts include Danny Ward, Daniel Iversen, and club legend Jamie Vardy.
Vardy, aged 38, a former England striker, spent 13 years at Leicester, scoring 200 goals in 500 appearances. He scored nine Premier League goals and provided four assists this past season.
Since announcing his departure, Vardy has been linked with potential moves to clubs such as Newcastle United, Crystal Palace, Wolves, and Wrexham.
