April 3 – Another Premier League defeat followed further grim financial news to leave Leicester City contemplating relegation and a possible profit and sustainability rules (PSR) charge.
A predictable 2-0 loss at Manchester City on Wednesday night means Ruud van Nistelrooy’s side are 12 points from safety and came after the Midlands club announced losses of £19.4million for their Championship-winning season in 2023-24.
Although the latest loss is significantly less compared to deficits of £92.5m in 2021-22 and £89.7m in 2022-23, they may face a PSR charge for the three-year period up to the 2022-23 season from the English Football League (EFL).
Unfortunately for Leicester, the outcome of the investigation will more than likely not be known before the end of a season which increasingly looks like they will be relegated back to the Championship.
Chief executive Susan Whelan said: “As a club, we still have work to do to return to the consistent heights of the last 15 years, and the ability to successfully adapt to different challenges is a strength we will rely on as we build for future seasons.”
Financial rules in the Premier League state that clubs can lose £105m over three years, which is reduced by £22m for each year spent in the EFL.
EFL rules are different, though. Clubs cannot exceed £39m in losses over a three-year cycle. If Leicester are relegated again, their maximum loss for their next accounts to include 2024-25 would be £83m, taking in two seasons in the Premier League and one in the Championship.
The 2015-16 Premier League champions have endured a particularly rough season back in the elite. They lost charismatic manager Enzo Maresca to Chelsea, then sacked his replacement, Steve Cooper, in November, before hiring Van Nistelrooy, who has won only three of his 19 matches.
Contact the writer of this story at moc.l1745585259labto1745585259ofdlr1745585259owedi1745585259sni@r1745585259etsbe1745585259w.kci1745585259n1745585259.