Leicester City is competing with Leeds United for promotion after releasing their financial statements on Tuesday.
If Leicester City is promoted to the Premier League, they could be in for a harsh punishment because a point deduction is reportedly “just a matter of time.”
Leicester’s financial problems have gained more attention since their most recent accounts were released. The Foxes revealed pre-tax losses of £89.7 million on Tuesday night. When this amount is added to their deficits of £92.5 million in 2022 and £31.2 million in 2021, they will have exceeded the three-year allowed maximum of £105 million.
The Premier League accused Enzo Maresca’s team of breaking the profitability and sustainability rules (PSR) last month, and their case was forwarded to an impartial commission for examination. According to Football Insider, the most recent accounts virtually certain a breach and very probably result in them losing points for the upcoming campaign.
With one month and seven games left (six for Leeds United), it is quite improbable that there will be a deduction this season. However, the Foxes will probably start the Premier League season with zero points due to promotion. Daniel Farke’s team would only truly gain from it if they were also promoted, increasing their likelihood of making it through the following season.
According to recent reports regarding the financial problems, some Championship clubs are eager to punish players this season. They claim that Leicester unfairly has an advantage in the promotion race because of their spending during the three years that they appear to have broken the rules.
Although Leicester is subject to a transfer embargo by the English Football League (EFL), significant players like Wout Faes, Jannik Vestergaard, and Patson Daka were signed throughout the three years of investigation. Aside from the Premier League’s “big six,” the Foxes had the highest wage bill the previous season. Additionally, it is believed that no player contracts featured wage reduction clauses relating to relegation.
With two games behind Ipswich Town and one point behind Leeds, Maresca’s team is presently third in the Championship. They do have a match coming up later this month against Southampton at home.
Ipswich takes on bitter rivals Norwich City at midday on Saturday, while Leeds and Leicester take on Coventry City and Birmingham City, respectively, later in the day, in what promises to be another exciting promotion race weekend. Southampton is at Blackburn Rovers and still in the race.
