Latest news with #financialbreaches
BBC News
02-06-2025
- Business
- BBC News
What can Man City spend this summer?
The cloud hanging over Manchester City is in the shape of 115 charges of alleged Premier League financial rule outcome could result in a fine, a transfer embargo, a wage cap or a points deduction - although the club remain confident they will be fully exonerated."City could spend a further £200m this summer unless there is a negative result to the charges," said football finance expert Kieran Maguire."With Kevin de Bruyne's salary coming off payroll in 2025-26 the club have plenty of leeway to invest."Read more about the early transfer window and what each Premier League club can spend this summer
Free Malaysia Today
20-05-2025
- Business
- Free Malaysia Today
Leicester charged over alleged financial breaches
Ruud van Nistelrooy faces an uncertain future after failing to prevent relegation. (PA/AP pic) LONDON : Relegated Premier League club Leicester have been charged with alleged financial breaches during their Championship campaign in 2023-24. The Foxes are accused of breaking Football League financial rules, with the case referred to an independent commission by the Premier League. Leicester, who will be back in the Championship next term following their relegation from the top-flight this season, could be handed a points deduction if they are found guilty. A Premier League spokesman said: 'Following an arbitration tribunal's decision concerning jurisdiction, Leicester City FC has now been referred to an independent Commission for alleged breaches of the EFL Championship profit and sustainability rules for season 2023/24, and the club's obligation to provide full, complete and prompt assistance to the Premier League in response to the League's enquiries.' The Football League added in a statement: 'The EFL commenced an investigation into this reporting period following the March 2024 submissions and as is permitted in accordance with EFL Regulations, jurisdiction for that passed to the Premier League at the conclusion of the 2023/24 season on the Club's promotion. 'We will now await the outcome of the Premier League proceedings.' In their own statement, Leicester responded: 'The club intends to engage co-operatively in this matter now that the Premier League's jurisdiction has been established for the period ending FY24 (financial year 2024).' Earlier this season, Leicester won an appeal that prevented the Premier League from charging them for breaching profit and sustainability rules during their top-flight campaign in 2022-23. Leicester claimed the Premier League did not have jurisdiction to charge them because they were competing in the Championship at the time of the case. The Premier League challenged Leicester's successful appeal, but a tribunal ruled in the club's favour. 'The club is pleased that it successfully defended the Premier League's challenge to the appeal board decision in relation to the PSR assessment period ending FY23, which was the main focus of these proceedings,' Leicester said. The latest financial accusations are another blow for third-bottom Leicester in a dismal season. Foxes boss Ruud van Nistelrooy is waiting to discover if he will remain in charge next term or be sacked for failing to save them from relegation. Leicester have won just six of their 37 league games and finish the season at Bournemouth on Sunday. Witness football history in Malaysia as Manchester United take on the Asean All-Stars – it's the clash you can't afford to miss. Book your seat now at before they're gone!
BreakingNews.ie
20-05-2025
- Business
- BreakingNews.ie
Leicester charged by Premier League over alleged financial breaches in 2023-24
Leicester have been charged by the Premier League for alleged financial breaches in the 2023-24 campaign. The case, which will be heard by an independent commission, relates to the club allegedly breaking profitability and sustainability rules (PSR) when they were in the Championship last season. Advertisement If found guilty the Foxes, who will play in the second tier again next term following relegation, could be handed a points deduction. It means the midlands club are now involved in another legal battle with the Premier League, having earlier this season won an appeal that prevented the League from charging them for breaching PSR rules in 2022-23. The Foxes claimed the Premier League did not have jurisdiction to charge them because they were competing in the Championship at the time. The Premier League contested Leicester's successful appeal but a tribunal ruled in the club's favour, saying the League's challenge fell below the threshold set by the organising body itself. Advertisement The Premier League has since changed its rulebook to close the loophole and prevent similar cases in the future, while also allowing it to open new proceedings following alleged breaches for the 2023-24 season – when Leicester were in the Championship. Ruud van Nistelrooy could not lead Leicester to safety (Mike Egerton/PA) The club are also accused of failing to provide their annual accounts to the Premier League by December 31, 2024 and not offering 'full, complete and prompt assistance' to the Premier League in response to the League's enquiries. A Leicester statement read: 'Consistent with its previous commitments, the club intends to engage cooperatively in this matter now that the Premier League's jurisdiction has been established for the period ending FY24. 'However, we will not be able to comment further on these proceedings until they are concluded, due to their confidential nature.' Advertisement
Malay Mail
20-05-2025
- Business
- Malay Mail
Leicester charged with financial breaches during 2023-24 Championship season
LONDON, May 20 — Relegated Premier League club Leicester have been charged with alleged financial breaches during their Championship campaign in 2023-24. The Foxes are accused of breaking Football League financial rules, with the case referred to an independent commission by the Premier League. Leicester, who will be back in the Championship next term following their relegation from the top-flight this season, could be handed a points deduction if they are found guilty. A Premier League spokesman said: 'Following an Arbitration Tribunal's decision concerning jurisdiction, Leicester City FC has now been referred to an independent Commission for alleged breaches of the EFL Championship Profit and Sustainability Rules for Season 2023/24, and the club's obligation to provide full, complete and prompt assistance to the Premier League in response to the League's enquiries.' The Football League added in a statement: 'The EFL commenced an investigation into this reporting period following the March 2024 submissions and as is permitted in accordance with EFL Regulations, jurisdiction for that passed to the Premier League at the conclusion of the 2023/24 season on the Club's promotion. 'We will now await the outcome of the Premier League proceedings.' In their own statement, Leicester responded: 'The club intends to engage co-operatively in this matter now that the Premier League's jurisdiction has been established for the period ending FY24 (financial year 2024).' Earlier this season, Leicester won an appeal that prevented the Premier League from charging them for breaching profit and sustainability rules during their top-flight campaign in 2022-23. Leicester claimed the Premier League did not have jurisdiction to charge them because they were competing in the Championship at the time of the case. The Premier League challenged Leicester's successful appeal, but a tribunal ruled in the club's favour. 'The club is pleased that it successfully defended the Premier League's challenge to the Appeal Board decision in relation to the PSR assessment period ending FY23, which was the main focus of these proceedings,' Leicester said. The latest financial accusations are another blow for third-bottom Leicester in a dismal season. Foxes boss Ruud van Nistelrooy is waiting to discover if he will remain in charge next term or be sacked for failing to save them from relegation. Leicester have won just six of their 37 league games and finish the season at Bournemouth on Sunday.
The Independent
20-05-2025
- Business
- The Independent
Leicester could face Championship points deduction after fresh Premier League charge
Leicester City could face a points deduction in the Championship after the Premier League charged the club over alleged financial breaches in the 2023-24 campaign. An independent commission will now hear the case to conclude whether the Foxes broke profitability and sustainability rules (PSR) during their time in the Championship last season. Back in the second tier once more, after suffering relegation from the Premier League, following the sacking of Steve Cooper and Ruud Van Nistelrooy 's failure to spark a revival, an early setback could arrive in the shape of a points deduction. It means the midlands club are now involved in another legal battle with the Premier League, having earlier this season won an appeal that prevented the League from charging them for breaching PSR rules in 2022-23. The Foxes claimed the Premier League did not have jurisdiction to charge them because they were competing in the Championship at the time. The Premier League contested Leicester's successful appeal but a tribunal ruled in the club's favour, saying the League's challenge fell below the threshold set by the organising body itself. The Premier League has since changed its rulebook to close the loophole and prevent similar cases in the future, while also allowing it to open new proceedings following alleged breaches for the 2023-24 season – when Leicester were in the Championship. The club are also accused of failing to provide their annual accounts to the Premier League by December 31, 2024 and not offering 'full, complete and prompt assistance' to the Premier League in response to the League's enquiries. A Leicester statement read: 'Consistent with its previous commitments, the club intends to engage cooperatively in this matter now that the Premier League's jurisdiction has been established for the period ending FY24. 'However, we will not be able to comment further on these proceedings until they are concluded, due to their confidential nature.'
