Finance expert Kieran Maguire casts doubt on Leicester City's confidence in avoiding a profit and sustainability breach for the 2023-24 season, despite significant transfer revenue.
Leicester City are the Premier League club most at risk of being charged with a profit and sustainability (PSR) breach for 2023-24. Leicester were charged in March 2024 with a breach of the PSR rules for 2022-23 after reporting losses of £89.7million for that year alone, with top-flight sides only permitted to lose £105million over a rolling three-year period.
The club later successfully appealed against the Premier League’s right to charge them after there was confusion over which division they were registered in when they submitted their accounts following their relegation to the Championship. Leicester had previously blocked an attempt from the EFL to sign them up to an agreed business plan in November 2023 after concerns were raised about another potential PSR breach for 2023-24. On 2 December, finance expert Kieran Maguire revealed King Power Stadium chiefs are “very confident” of avoiding a spending breach following their transfer dealings last season. The club brought in around £90million across the latest accounting period following the sales of Harvey Barnes, Timothy Castagne and Kiernan Dewsbury-Hall as well as the compensation fee for Enzo Maresca’s move to Chelsea. “Looking at the numbers, I just don’t see where the confidence comes from. “Clearly, they put the numbers into the Premier League last week at the latest, and they have probably been in dialogue with them for some time. “The numbers may well have been audited in October. We will have to see what the numbers look like when they come out, but it seems to me that they are going to fail. “Their turnover can’t be much more than £120million. They had a wage bill of over £100million in the Premier League, so even if they have slashed the wage bill in half when they were in the Championship, I still think they would fail
Leicester City Premier League Profit And Sustainability Rule PSR Breach Financial Concerns Championship
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Leicester City Facing Potential PSR Breach After Financial ConcernsLeicester City are at risk of breaching the Premier League's profit and sustainability rules for the 2023-24 season due to continued financial difficulties.
Read more »
Manchester City vs Leicester City Prediction: Can City End Their Winless Streak?Manchester City and Leicester City face off in a crucial Premier League clash where both teams are looking for a much-needed victory. City's recent form has been disappointing, while Leicester's struggles have seen them drop into the relegation zone.
Read more »
Liverpool vs. Leicester City: Jota, Jones in line for Starts as Foxes Face Defensive ConcernsLiverpool prepare to host Leicester City on Boxing Day with Diogo Jota potentially returning to the starting lineup. Meanwhile, Leicester faces uncertainty in goal and defensive solidity after their recent defeat to Wolves. This match sees Liverpool seeking to extend their unbeaten streak at home against Leicester, while the Foxes aim to avoid a third consecutive league loss.
Read more »
Nine Manchester City Players Face Uncertainties for Leicester ClashManchester City manager Pep Guardiola faces a major selection dilemma ahead of the Premier League match against Leicester City on Sunday, with up to nine players potentially unavailable. Several key players like Ilkay Gundogan and Kevin De Bruyne have recovered from a virus, while others like Nathan Ake, Ederson, John Stones, and Matheus Nunes are battling injuries. The situation is compounded by Leicester City's own injury concerns, with Jamie Vardy and Wout Faes facing doubts for the match.
Read more »
Jamie Vardy Injury Update: Leicester Boss Hopes Striker Will Face Man CityLeicester City manager Ruud van Nistelrooy expresses optimism regarding Jamie Vardy's potential return from injury for the upcoming Premier League clash against Manchester City.
Read more »
Manchester City vs Leicester City: Last Game PreviewPreview of the final Premier League game between Manchester City and Leicester City, highlighting key statistics and recent form for both teams.
Read more »