Due to their failure to provide audited financial statements and their violation of the profit and sustainability regulations (PSR), Leicester has been referred to an independent commission.
The Championship’s top scorers can lose points if found guilty.
The English Football League (EFL) is conducting a separate financial investigation into the Foxes.
After being demoted at the end of the previous season, Leicester expressed their “surprisal” and “disappointed” feelings about the Premier League’s decision-making at a time when the team is not in the top division.
In the event that the football authorities attempted to assert their jurisdiction, the club stated that they would “defend” themselves “from any unlawful acts.”
Although Leicester has not yet released its financial statements for their final Premier League season, they lost a club-record £92.5 million in the 12 months leading up to May 2022.
The club recorded a £33.1 million pre-tax loss the previous year, the year they won the FA Cup for the first time.
According to Premier League regulations, clubs can lose up to £105 million in three years, or £35 million every season, before they are subject to fines.
When the year first began, Leicester was leading the Championship standings and third-place Southampton by 13 points. It appeared as though Leicester would easily return to the Premier League.
