Leicester City has scored a major victory by winning their appeal against an alleged breach of Premier League Profitability and Sustainability (PSR) rules, ensuring they won't face a points deduction in the upcoming 2024-25 season. 🎉⚽
The PSR rules are designed to keep Premier League teams financially healthy, forbidding losses exceeding £105 million over three seasons. Despite being relegated to the EFL Championship after the 2022-23 campaign, Leicester stood firm against the Premier League's initial allegations.
In a press release on Tuesday, the club emphasized the Appeal Panel's finding that they did not breach the PSR rules for the assessment period ending June 30, 2023. 🛡️
Back in March, the Premier League had referred Leicester to an independent commission over the alleged PSR breach. Although the commission first dismissed Leicester's challenge regarding their jurisdiction, the Foxes didn't give up. They continued to appeal, standing their ground against peers like Everton and Nottingham Forest who faced point deductions.
\"We welcome the Appeal Board's comprehensive decision, which supports our consistently stated position that any action against the Club should be pursued in accordance with the applicable rules,\" Leicester stated.
While the Premier League expressed surprise and disappointment at the outcome, Leicester City's determination has paid off, keeping their aspirations alive for the coming season. 🌟
