Kiernan Dewsbury-Hall of Leicester City reacts after their FA Cup loss to Chelsea at Stamford Bridge in London, England, March 17, 2024. /CFP
It feels like a chilling domino effect, with Everton being the first to fall, followed by Nottingham Forest, and now Leicester City finding themselves in a similar predicament.
The former English champions have been hit with charges by the Premier League, accusing them of breaching profitability and sustainability rules (PSR) over the past three seasons in the top flight. If found guilty, the club could potentially face the harsh punishment of a points deduction.
In a statement, Leicester said they were "extremely disappointed at the timing of the charge" and added that the club will continue to defend themselves "from any unlawful acts by the football authorities, should they seek to exercise jurisdiction where they cannot do so."
"LCFC remain willing and eager to engage constructively with the Premier League and the English Football League to seek the proper resolution of any potential charges, by the right bodies, and at the right time," the club added.
Leicester City chairman Aiyawatt Srivaddhanaprabha during the FA Cup match at Stamford Bridge in London, England, March 17, 2024. /CFP
Both Everton and Forest have entangled in similar charges regarding their financial accounts up until the 2022-23 season. Forest have been deemed guilty and was handed a four-point deduction on Monday. As for Everton, they had already faced a penalty of a 10-point deduction in November, though it was later reduced to six following an appeal. Everton now await the possibility of a second punishment tied to the assessment period ending with their 2022-23 accounts.
Both Premier League clubs were required to submit their accounts by December 31, as part of new regulations designed to streamline the reporting process and ensure that any penalties are administered during the season when the alleged infractions occurred. However, Leicester, having dropped out of the league, was not obliged to comply with this requirement.
Given that Leicester were not a part of the Premier League when the new standard directions were implemented, which include specific timelines for case hearings, the responsibility of setting the schedule falls upon an independent commission. Consequently, the proceedings, including any potential appeals, may extend beyond the current season. If sanctions are deemed necessary, they would likely be enforced in the following season.
Hamza Choudhury of Leicester City during the FA Cup match at Stamford Bridge in London, England, March 17, 2024. /CFP
The moral of this situation is quite evident. Whether it's Everton, Forest, or Leicester, clubs may have their reservations about the PSR rules they have committed to. They might even raise legitimate objections regarding the extent of the penalties imposed. Nevertheless, if they are found to have violated the rules, punishment will be inevitable.
Naturally, a pertinent question arises: Are PSRs truly designed to safeguard the future of clubs, or do they primarily serve to maintain the status quo? This question will undoubtedly be pondered and debated in the days to come.