September 3rd 2024.
The football world was abuzz as the news broke that Leicester City had successfully appealed the Premier League's charge against them. The team had been facing the possibility of a points deduction for allegedly breaching Profit and Sustainability rules. This all stemmed from their failure to submit their audited financial accounts for the 2022-23 season, a season in which they were unfortunately relegated to the Championship.
The charges against Leicester were serious, as they had reported losses of £89.7m for that season and an additional £92.5m in the previous one. However, according to Premier League regulations, clubs are allowed to lose a maximum of £105m over a three-year period. Despite this, the independent panel that heard Leicester's appeal ultimately ruled in their favor, stating that the league did not have the authority to impose sanctions, including a potential points deduction, in this particular case. The reason? The charges were issued when Leicester was not even in the Premier League.
Naturally, the Premier League was disappointed with this decision and has announced that they are considering an appeal of their own. In a statement, they expressed their disappointment with the limited reasoning provided by the panel and their belief that the original commission had interpreted the rules correctly. They also emphasized the importance of enforcing these rules to ensure fairness among all clubs.
For Leicester, this legal victory was a huge boost, especially for their new manager Steve Cooper. The team released a statement welcoming the decision and highlighting the fact that the panel had supported their argument that any charges should be pursued in accordance with the applicable rules. They also clarified that the panel had found no breaches of the Premier League PSRs for the assessment period ending in 2023.
In their decision, the panel had also identified flaws in the drafting of the Premier League's rules, which Leicester had challenged. The team stated that they simply wanted the rules to be applied as they were written. This legal triumph not only cleared Leicester of any potential penalties, but it also set an important precedent for future cases.
Had the appeal gone the other way, Leicester could have faced a points deduction similar to what Everton and Nottingham Forest experienced last season. However, with this legal hurdle now behind them, the team can focus on their performance on the pitch. Currently sitting in 15th place after one draw and two defeats in their first three games of the season, they will be looking to turn things around and climb up the table.
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