Premier League charges Leicester over alleged financial breaches

Leicester have been referred to an independent commission by the Premier League for an alleged breach of profitability and sustainability rules during their previous seasons in the top flight.

The Foxes – currently second in the Sky Bet Championship on goal difference, but with a match in hand on leaders Leeds – could face a points deduction if found to have broken the financial regulations.

A statement from the Premier League read: "The Premier League has today referred Leicester City FC to an independent commission for an alleged breach of Profitability and Sustainability Rules (PSRs) and for failing to submit their audited financial accounts to the League.

"The alleged breach relates to the assessment period ending season 2022/23, when the club was a member of the Premier League.

"Leicester City were relegated to the EFL Championship prior to the introduction of the Premier League's new Standard Directions, which prescribe a timeline within which PSR cases should be heard.

"Therefore, the proceedings will be conducted in accordance with a timetable to be set by the independent commission, and its final decision will be published on the Premier League’s website."

Leicester, who also face a financial investigation from the EFL, issued a statement following the Premier League charges defending the club’s position.

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A statement read: "Leicester City is surprised at the actions the Premier League has taken today.

"The club is extremely disappointed that the Premier League has chosen to