Leicester City have been charged by the Premier League with allegedly breaking spending rules during their last three seasons in the top flight.
Leicester have been referred to an independent commission for breaching profit and sustainability rules (PSR) and failing to submit audited finances.
If found guilty they face a points deduction which could affect their chances of getting promoted to the premiership
The Foxes are also subject to a separate financial probe by the English Football League (EFL).
Leicester, who were relegated at the end of last season, said they were “surprised” and “disappointed” by the timing of the Premier League’s actions, when the club is not in the top flight.
Leicester are yet to make their accounts for their last season in the Premier League publicly available, but in the 12 months up to May 2022 they lost a club record £92.5m.
A year earlier, in the season when they lifted the FA Cup for the first time, the club reported a pre-tax loss of £33.1m.
Top-flight rules permit clubs to make losses of £105m over a three-year period, or £35m per campaign, before facing sanctions.
Both Everton and Nottingham Forest have faced similar charges relating to their accounts up to 2022-23, with the latter found guilty and hit with a four-point deduction on Monday.
Everton were docked 10 points in November – which was reduced to six on appeal – for previous PSR breaches, and are waiting on a potential second punishment relating to the assessment period ending with their 2022-23 accounts.
Leicester are now involved in dealing with two financial investigations, with the club the subject of an ongoing EFL inquiry into a possible breach of PSR rules relating to the ongoing season.
In 2018 the club had to pay the EFL £3.1m after settling a Financial Fair Play dispute from the 2013-14 season when they won the Championship.
Leicester City Charged Over Alleged Breach Of Premier League Rules
