Premier League clears clubs of PSR breaches, but dispute with Leicester continues | first division
He first division has issued a clean bill of financial health to clubs that had been at risk of failing to meet profitability and sustainability standards (PSR).
However, Leicester City could still face intervention as a dispute over whether the league had jurisdiction over the club's finances during the year it spent in the Championship is still being resolved.
Clubs that had recorded total losses during the 2021-22 and 2022-23 seasons were required to submit their PSR assessments for the 2023-24 season by Dec. 31, with the league promising a verdict 14 days later. Clubs are required to limit financial losses to a maximum of £105m over a three-year period.
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Everton and Nottingham Forest, who suffered point deductions for PSR failures last season, were reported to have faced scrutiny along with Leicester and Chelsea, but are all considered to have complied with the rules.
Leicester received PSR charges during the three-year period ending in the 2022-23 season, but saw them charges dismissed on appeal. An independent commission accepted that because Leicester were relegated at the end of that season they were not a Premier League club when they submitted their accounts on June 30, 2023, leaving some income outside the reach of league rules.
The league appealed that decision, saying in a statement on Tuesday: “Issues relating to the Premier League's jurisdiction over Leicester City Football Club in relation to compliance with the PSR are currently the subject of confidential arbitration proceedings. Accordingly, neither the league nor the club will comment further at this stage on any aspect of the club's compliance with any of the PSR or related rules, other than to say that the league has not made any complaint against Leicester for any breach of the PSR for the period ending the 2023-24 season.”
