da 888casino： Leicester City are set to sue the Premier League and EFL after being hit with a transfer embargo for alleged profit and sustainability rule breaches.
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Leicester accused of financial breachFoxes placed under transfer embargoLeicester to sue Premier League and EFLGettyWHAT HAPPENED?
The Championship side were charged by the Premier League over allegedly breaking spending rules during their last three seasons in the top flight. The Foxes, who were referred to to an independent commission for the alleged PSR breach and failing to submit audited finances, could receive a points deduction next season. Now, in light of being placed under an embargo by the English Football League, Leicester have revealed they are taking 'urgent legal proceedings' against the two bodies.
AdvertisementWHAT LEICESTER CITY SAID
A club statement reads: "LCFC has been compelled today to issue two urgent legal proceedings against the Premier League and the EFL. LCFC will be seeking that each of these proceedings is determined by an appropriate and fully independent legal panel. The Club is committed to ensure that any charges against it are properly and proportionately determined, in accordance with the applicable rules, by the right bodies, and at the right time.
"While LCFC would prefer the proceedings to be in public, so its supporters and the wider world can be informed about the important issues of football governance that will be considered, the relevant rules require that these proceedings are conducted confidentially, and LCFC will therefore not be able to comment further about them at this stage.
"We reaffirm the Club’s position that we will continue to fight for the right of Leicester City and all clubs to pursue their ambitions, particularly where these have been reasonably and fairly established through sustained sporting achievement.
"The Club further notes that at 4pm today (Friday, March 22) the EFL issued a public notification that LCFC has been placed under a registration embargo pursuant to its P&S rules. The EFL is aware that LCFC has disputed the EFL’s entitlement to impose this constraint, which is both restrictive and premature, with more than a quarter of the Club’s 2023/24 reporting period remaining."
GettyTHE BIGGER PICTURE
Leicester, who sit second in the Championship as they try to secure an immediate return to the Premier League, face the very real threat of a points deduction next term, just as Everton and Nottingham Forest have this season for PSR breaches. The Foxes lost £92.5 million in the 2021/22 season and after suffering a big drop in revenue following their relegation from the top flight in 2022/23, they could be in even more financial peril if they fail to get promoted out of the Championship. Moreover, a transfer embargo makes their future even more bleak.
WHAT NEXT?
Enzo Maresca's Leicester, who are next in action in the Championship away to Bristol City on Friday, March 29, will continue to press on with these legal matters in the coming weeks and months as they fight their case. They are currently second in the table, level on points with leaders Leeds, although they do have a game in hand.