Leicester City could face a point deduction on Thursday after the Premier League referred the club to an independent committee for allegedly breaching the league's profit and sustainability regulations.
The Premier League said in a statement that Leicester, who were relegated to the Championship last season, had not submitted audited financial reports.
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“The alleged breaches relate to the evaluation period at the end of the 2022-23 season, during which the club was a member of the Premier League,” the statement said.
“The proceedings will be carried out according to a schedule set by the independent commission.”
If found guilty, Leicester could become the third club, after Everton and Nottingham Forest, to be subject to point deductions for breaching Premier League spending rules.
Premier League regulations stipulate that clubs cannot lose more than 105 million pounds ($133.6 million) over a three-year period.
Leicester said they were surprised and disappointed by the league's decision to charge them despite not being a Premier League club.
“LCFC remains motivated and keen to engage constructively with the Premier League and the EFL and seek the appropriate resolution of potential charges by the appropriate authorities at the appropriate time,” they said in a statement.
“The club will continue to take prudent advice regarding its position and will continue to defend itself against unlawful activity where necessary where the football authorities are unable to exercise jurisdiction.”
Leicester are second in the Championship, level on points with leaders Leeds United, and are aiming for promotion to the Premier League. Ipswich are one point out of the automatic promotion spots, but Leicester have a point left.
If Leicester fail to win promotion this season, a point deduction in the Championship could be applied. Point deductions are unlikely this season as it will take time for the independent panel to complete its investigation.
Defending champions Manchester City were also referred to an independent committee last year for more than 100 alleged breaches of financial rules. No verdict has yet been rendered in this case.
