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Foxes post big loss

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Leicester City FC made a loss of £34m in the 2012-13 season, reflecting how much it can cost a benefactor to get a football club promoted. However, the club are now on track to take the Championship title which is just as well as a similar loss next season would lead to a £20m fine under financial fair play rules.

A fall in ticket sales and revenue contributed to the £4.3m increase in losses from the previous year. But City say the figures also reflect the purchase of the King Power Stadium, and that important progress has been made meeting Financial Fair Play rules.

Revenue fell in 2012/13 when compared with the boost provided in the previous season by the lucrative friendly against Real Madrid at King Power Stadium in July 2011 and a profitable run to the sixth round of the FA Cup.

Eight home league matches were also shown live on television last season leading to a fall in ticket revenue and a dip in year-on-year average gates from 23,036 to 22,569. Average attendance in the current campaign currently stands at 23,913.

Leicester are understood to have been one of the clubs instructing the solicitors Brabners to ask for substantial changes to be made to the FFP rules backed by a threat of legal action.