The wait is over

According to The Times, though they have not charged any clubs, Leicester City remain at risk pending the outcome of their ongoing legal case.

Three Premier League clubs faced a nervous wait to find out if they would be charged with breaching PRS but the league clarified their decision in a statement issued earlier today.

It read: “Issues as to the jurisdiction of the Premier League over Leicester City Football Club in relation to PSR compliance are currently the subject of confidential arbitration proceedings.

“Accordingly, neither the league nor the club will make any further comment at this stage about any aspect of the club’s compliance or otherwise with any of the PSR or related rules, save to say that no complaint has been brought against Leicester by the league for any breach of the PSRs for the period ending Season 2023-24.”

Had they been charged they could have faced a points deduction.

Clubs with aggregate losses in the last two accounting periods - 2021-22 and 2022-23 - were obliged under league rules to submit 2023-24 accounts to the Premier League by December 31, with any complaints to be issued to clubs by the league within 14 days.

Premier league sides are said to be in breach if they exceed the maximum permitted 'allowable limit' of losses over three seasons - £105 million.

Over the last few years, the Premier League has dished out a number of points deductions, including Everton and Nottingham Forest who were charged last January.

Leicester came close to also receiving a points deduction in September but successfully argued their case that they were not under Premier League jurisdiction after being relegated to the Championship last season.

The relegation battling side posted cumulative losses of £124m in the three seasons ahead of relegation. 

Though it is not known for certain at this stage who the two other clubs were who were at risk of punishment, one team that had come under scrutiny was Chelsea, who spent over £1billion on player transfers since the 2022 arrival of new owners Todd Boehly and Clearlake Capital. 

In April last year the west London club sold a hotel on their Stamford Bridge site to one of their sister companies in a bid to avoid PSR breaches and they have also sold the women's team to its parent company, BlueCo Midco on June 28, the year-end cut-off point for their 2023-24 accounts.