Leicester City's quest for Premier League promotion suffer a big blow

The Premier League have found Championship leaders, Liecester City guilty for breaching the probability and sustainability in law.

This decision means that the foxes have joined Everton and Nottingham Forest to see their points deduction after exceeding the exceeding the expected losses in three years. Leicester have been referred to an independent commission for breaching profit and sustainability rules (PSR) and failing to submit audited finances.

The foxees released a statement on its official website just a few hours after the Premier League announced the points deduction. According to reports from the club, they have followed the rules of the Premier League's financial fair play for the past couple of seasons.

The statement was as follows,

"Leicester are yet to make their accounts for their last season in the Premier League publicly available, but in the 12 months up to May 2022 they lost a club record £92.5m. A year earlier, in the season when they lifted the FA Cup for the first time, the club reported a pre-tax loss of £33.1m.Top-flight rules permit clubs to make losses of £105m over a three-year period, or £35m per campaign, before facing sanctions.
LCFC has repeatedly demonstrated its commitment to the P&S rules through its operating model over a big period, achieving compliance while pursuing sporting ambitions that are entirely credible given the consistent success that the Club has achieved in that time, both domestically and in European competition. As we continue to represent the Club’s position, we will continue to fight for the right of all clubs to pursue their ambitions, particularly where these have been reasonably and fairly established through sustained sporting achievement.,

However, the supporters of Leicester City will hope their club gets to win the appeal so they have their points will not be deducted at the end of the season as this may hinder their chances of an immediate return to the Premier League.