The Foxes could yet appeal the sanction, after it was ruled they breached Profitability and Sustainability Rules [PSR] for the 2023-24 season, when they were last in the Championship. Leicester have made combined losses of over £200m across the three-year, rolling period ending in June, and they are allowed to make losses of a maximum of £81m.
The Premier League said: “Upon Leicester City’s promotion to the Premier League in 2024, the EFL’s investigation into the club’s alleged breaches of the P&S Rules transferred to the Premier League. Following an Arbitration Tribunal’s decision in March 2025 that confirmed the Premier League had jurisdiction, Leicester City were referred to an independent Commission in May 2025.
“During a week-long hearing in November 2025, Leicester City raised a range of legal challenges regarding the applicability of the relevant Rules and the Commission’s ability to impose a sanction on the club, all of which were rejected.
“These included a claim that the relevant rules were in breach of competition law. The Commission accepted the club’s submissions as to the length of the relevant assessment period and that a particular accounting policy relating to player costs should apply to reduce the club’s losses in its 2022 annual accounts.
“Having done so, it determined that the club had breached the relevant P&S threshold by £20.8million over the three-year assessment period (2022-2024). The Commission found that the club’s refusal to provide its annual accounts to the Premier League by the relevant deadline was a breach of Premier League Rules.
“It also dismissed a claim by the club that it had demonstrated exceptional cooperation throughout the proceedings.
“Following agreement by the parties, and consistent with the relevant guidelines, the Commission agreed that the club’s improving financial position over the relevant assessment period was a mitigating factor.
“Under EFL Regulations, as Leicester City is currently a Championship club, the EFL Board today ratified the Commission’s recommendation of an immediate points deduction.”
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