Leicester City are bottom of the Premier League and increasingly look unlikely to escape relegation. Now they face the additional problems of talks with the Football League about their £20.8m loss in the last financial year and whether it represents a breach of financial fair play rules.
From the League’s perspective it is in excess of the £8m permissible loss, but Leicester consider that £13m of the losses are due to the costs of promotion. They have also reduced losses from £34m in the year ending May 2013.
Leicester City are bottom of the Premier League and increasingly look unlikely to escape relegation. Now they face the additional problems of talks with the Football League about their £20.8m loss in the last financial year and whether it represents a breach of financial fair play rules.
From the League’s perspective it is in excess of the £8m permissible loss, but Leicester consider that £13m of the losses are due to the costs of promotion. They have also reduced losses from £34m in the year ending May 2013.
Meanwhile, the club’s Thai owner has seen his personal wealth soar by £800m to £1.8bn.