Premier League cannot take action against the club for exceeding the relevant PSR threshold

[21st Century Fox]

2 minutes ago, Bilo said:

Nick De Marco's magic

He wears a magic hat

They said a points deduction

He wasn't having that

He found there was a loophole

A problem with the rules

While Everton and Forest 

Both got played for fools!

 

OHHHH

Get this pinned.

[Mickyblueeyes]

Just to remind everyone, it was Vichai who emphasised that we needed a General Counsel to navigate around the changing rules that were coming and the vast growth he had planned. We were one of the first clubs outside Man U and Liverpool to hire a general counsel to the board. Villa being one of the others. 
 

He had plans for us. We were big dogs in his eyes. Benefiting again from his lasting legacy. 

[drew]

I think the PSR rules are changing to a financial penalty next season from a sporting one.

[ftfagos]

Well, that was an easy six pointer.

[les-tah]

16 minutes ago, Marmite said:

The premier league are going to hate us with a passion now. Every decision will go against us to make it as hard as possible 😂😂

let’s imagine all the refs and VAR teams are secretly conspiring against Leicester and sworn to keep this massive plot under wraps, someone would have loose lips and the risks of a billion-pound lawsuit would be amazing🤣

Edited 3 September by les-tah

[Molson Canadian]

Wow this is amazing news. 
 

great work by the legal team.
 

Also does anyone know the name of the legal team? I might need them if I decide to divorce my wife. 

[Gravel]

9 minutes ago, trugerkem said:

How much will it cost me to get De Marco on my shirt 

Give him a grateful handjob and it might not cost a penny.

[Merging Cultures]

23 minutes ago, MPH said:

So… if we stay up at the expense of Everton or Forest, will they have a case against us in court? Coils they sue us?

I don't see how, it's been decided we followed the rules. The rules just happened to be poorly worded.

[Saxondale]

1 hour ago, ramboacdc said:

1. :

2. Importance of the Accounting Reference Date:
   • The Appeal Board noted that LCFC’s decision to change its accounting reference date to 30 June 2023 was critical. This decision, albeit coincidental, meant the club's PSR Calculation fell after its relegation, thus placing it outside the Premier League’s jurisdiction

“Coincidental”

 

Haha, superb!

[Royston.]

• got relegated on purpose to avoid a 3 point deduction
• Maresca was just on loan from Chelsea 
• we still own Maddison, Barnes, Tielemens, Dewsbury Hall, Schmeichel and Soyuncu and just "sold" them to ease the purse strings
• 

[Rusko187]

1 hour ago, moore_94 said:

https://www.premierleague.com/news/4106719
 

The Premier League is surprised and disappointed by the independent Appeal Board’s decision to uphold an appeal lodged by Leicester City FC regarding the League’s jurisdiction over the club’s alleged breach of its Profitability and Sustainability Rules (PSRs) when the club was a member of the Premier League. 
 

In March this year, the Premier League referred Leicester City to an independent Commission for an alleged breach of PSRs relating to the assessment period ending financial year 2022/23. Once submitted, the club’s financial results demonstrated that it had exceeded the permitted £105million threshold for the relevant period. 
 

Leicester City subsequently challenged the Commission’s authority to hear the case on the grounds of jurisdiction. This challenge was dismissed by the independent Commission (click here to read in full), a decision which Leicester City appealed. 
 

That appeal has been upheld by an independent Appeal Board on the grounds that the club’s accounting period which ended on 30 June 2023, came after the point the club had ceased to be a member of the League. The Appeal Board’s decision effectively means that, despite the club being a member of the League from Seasons 2019/20 to 2022/23, the League cannot take action against the club for exceeding the relevant PSR threshold in respect of the associated accounting periods. Click here to read the full written reasons.

 

The Premier League is very disappointed with the Appeal Board’s decision, and the limited reasons provided for it. The League remains of the view that the original Commission took the right approach in interpreting the rules in a practical and workable way that gives effect to their intended purpose. In overturning the original Commission’s findings, the Premier League considers the Appeal Board’s decision fails to take into account the purpose of the rules, all relevant parts of the PSRs and the need for effective enforcement of alleged breaches to ensure fairness among all clubs. 
 

If the Appeal Board is correct, its decision will have created a situation where any club exceeding the PSR threshold could avoid accountability in these specific circumstances. This is clearly not the intention of the rules.

 

It is of critical importance that the Premier League is able to enforce its rules consistently to maintain the principle of fairness. The League will now consider what further action it can take to ensure this is the case. 
 

Appeal Boards are independent of the Premier League and member clubs and are appointed by the independent Chair of the Premier League Judicial Panel. 

No fairness in any of it, just a means of keeping “top 6” as it is by starving out any new challenger.

[Leicesterpool]

28 minutes ago, AKCJ said:

Worth pointing out that we're still probably going to be in the shit with PSR/FFP. we can't go and blow £50m on players in January.

True but happily take that now. Leicester tbh arent doing bad considering so far. Scored in every game and all defeats have been narrow. Performances may improve further with this news.

[hebangsthedrums]

5 minutes ago, Bert said:

Well probably fail PSR for this year after paying Nick De Marco 

Say his law firm has been helping with the stadium planning permission. On that note, can't we convince them Skipp is a plumber, he looks the part 

[David Hankey]

Commonsense appears to have prevailed.

[foxfanazer]

Everyone will just forget about all of this right?

 

 

[PNM]

You couldn’t make it up. A multi billion pound industry at the highest level couldn’t write THEIR rules properly and are shocked and disappointed by the outcome. What a shambles they are. We’ve literally got away with it because of a technicality (which I’m delighted about), but this is all on the premier league themselves. Their statement is full of bull.
 

"If the Appeal Board is correct, its decision will have created a situation where any club exceeding the PSR threshold could avoid accountability in these specific circumstances. This is clearly not the intention of the rules."

 

Should’ve proof read your word doc then mate. 

[lcfc sheff]

did we get relegated on purpose? 

[Ricey]

Ha, no punishment for cheating and signing all of those amazing pla......oh.

[Foxdiamond]

Wow. Does this basically mean The Premier League does not know its arse from its elbow when drafting rules

[Jonezy]

So we basiscally yo-yo'ed our way out of this. Madness. Everyone is going to hate us now. 

[SecretPro]

Just now, Foxdiamond said:

Wow. Does this basically mean The Premier League does not know its arse from its elbow when drafting rules

Who'd have thought! 

[Dan LCFC]

Forest, Everton, Leeds and Coventry Twitter absolutely sensational as expected.

[It'sblueupnorth]

2 minutes ago, lcfc sheff said:

did we get relegated on purpose? 

Playing Danny Ward finally makes sense, the psr hero we needed but didn’t deserve

[Tommy Fresh]

https://www.skybluestalk.co.uk/threads/theyve-got-off-spot-free-again.162338/

 

Superb stuff

[Bilo]

1 minute ago, Dan LCFC said:

Forest, Everton, Leeds and Coventry Twitter absolutely sensational as expected.

Being talked down from their nearest multistorey car park because of us, but they still 'OnLy HaTe DerBy.'