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moore_94

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

By moore_94, in Leicester City Forum

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jammie82uk

jammie82uk

Posted
Posted (edited)

I’ve not read every page on here so excuse me if this has already been posted but I found it interesting 

 

Here is a timeline of key events related to Leicester City Football Club (LCFC) and their alleged breach of the Premier League’s Profitability and Sustainability Rules (PSRs):

 

2022

    •    31 May 2022: LCFC prepares audited accounts for the financial year ending 31 May 2022.


2023

    •    28 March 2023: LCFC provides the Premier League with its calculation of its aggregated Adjusted Earnings Before Tax for the financial years (FY) T, T-1, and T-2, with the calculation for T based on estimated earnings for FY23 (year ending 30 June 2023).
    •    31 March 2023: LCFC submits Future Financial Information and an estimated PSR Calculation to the Premier League, covering the period until FY T+2.
    •    24 April 2023: LCFC submits a modified version of the PSR Calculation.
    •    28 May 2023: The 2022/2023 Premier League season ends, and LCFC is relegated to the English Football League (EFL) Championship.
    •    31 May 2023: The Premier League requests LCFC to transfer its share in the Premier League to Luton Town FC, a promoted club.
    •    13 June 2023: The share transfer is completed, and LCFC officially ceases to be a Premier League member, becoming a member of the EFL. As of this date, LCFC’s audited annual accounts for FY23 are not yet finalized.


2024

    •    26 February 2024: The Premier League writes to LCFC regarding its FY23 Annual Accounts, requesting their submission before the 1 March 2024 deadline.
    •    1 March 2024: LCFC submits its FY23 Annual Accounts and related financial information to the EFL. The Premier League reiterates its request for these accounts but receives no response from LCFC.
    •    4 March 2024: The Premier League again asks LCFC to provide the FY23 Annual Accounts, noting the club’s failure to cooperate despite having submitted the accounts to the EFL.
    •    6 March 2024: LCFC responds, arguing that it is no longer subject to Premier League Rules after its relegation.
    •    8 March 2024: LCFC’s solicitors, Centrefield LLP, send a formal letter questioning the Premier League’s jurisdiction over the club after relegation and asserting that LCFC is bound by EFL rules, not Premier League rules.
    •    15 March 2024: LCFC’s solicitors send a letter before action, indicating the club’s intent to initiate arbitration and questioning the Premier League’s jurisdiction over the club for the 2022/2023 PSR Calculation.
    •    31 March 2024: The Premier League formally submits its Complaint against LCFC, alleging a breach of the PSRs for FY23.
    •    2 April 2024: LCFC provides the Premier League with its FY23 Annual Accounts.
    •    17 July 2024: The Premier League amends its Complaint against LCFC.

2024 (Appeal Decision)

    •    30 August 2024: The Premier League Appeal Board issues its decision, concluding that LCFC did not breach Rule E.49 because the rule did not apply to LCFC after its relegation from the Premier League. The appeal succeeds, and the Premier League’s jurisdiction over LCFC is reversed.

 

This timeline outlines the key events leading up to the decision and highlights the interactions between LCFC, the Premier League, and the EFL regarding the alleged financial breach.

Edited by jammie82uk
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DezFox

DezFox

Posted
Posted
4 hours ago, Phube said:

Simon Jordan’s raging… lol

 

Though can we sue him for slander for saying we breached, when it’s proven we didn’t!? 
 

 

Hate it that he doesn’t mention the clear cheating in the prem constantly with bridge transfers, hotel sales and academy sales and well Washington to Strasbourg. 😂The fact Simon jordon compares us to OJ SIMPSON is simply horrific. Get some perspective, what a little rat. 

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Chrysalis

Chrysalis

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Posted (edited)
7 minutes ago, whoareyaaa said:

unless you are Man City, Man Utd or Chelsea every club should be voting to get rid of FFP

They wont, too much self interest.

 

FFP doesnt just help the big 6, but it kind of helps the entire status quo, so established EPL clubs have locked in advantage over newly promoted clubs, and relegated clubs have locked in advantage against clubs without parachute payments. 

 

This is why we need an independent regulator, as when you let the clubs make the rules you end up with the nonsense rules we have now.

Edited by Chrysalis
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StanSP

StanSP

Posted
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12 minutes ago, jammie82uk said:

    •    15 March 2024: LCFC’s solicitors send a letter before action, indicating the club’s intent to initiate arbitration and questioning the Premier League’s jurisdiction over the club for the 2022/2023 PSR Calculation.
    •    31 March 2024: The Premier League formally submits its Complaint against LCFC, alleging a breach of the PSRs for FY23.

This seems interesting. It's like the PL took umbrage over the letter before action and thought 'fvck it. If they're going to threaten us, we'll hit them with the complaint and alleged PSR breach' now. Even though one could hazard a guess that the PL perhaps had an inkling their rules weren't watertight and I would also imagine they suspected LCFC wouldn't fight back to such an extent. 

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Fear Of The Fox

Fear Of The Fox

Posted
Posted (edited)
7 hours ago, ClaphamFox said:

I'm sorry, but this is very silly. For them to do this, they'd need PGMOL to agree to cheat on their behalf. There is not a chance they'd agree to do that and even if they did, somebody would blow the whistle - and if that level of corruption were revealed, it would mean the end of the PL in its current form. It's not going to happen.

I agree with you but I'm not fully convinced there's integrity, morals and fairness in top level football. It's like politics and politicians. There's corruption. If you're getting on their way they have the power to bring you down. I know it sounds a bit silly but the sport has largely derailed off its roots and purpose nowadays and it makes me more pessimistic unfortunately. I hope I'm completely wrong. 

Edited by Fear Of The Fox
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st albans fox

st albans fox

Posted
Posted
44 minutes ago, STUHILL said:

So, depending what you read -
we have likely broken 23/24 PSR rules and will get a points deduction in January 

OR 

By selling KDH and getting compensation for Enzo and his team, we will be fine...

 

 

The PL decide by mid jan if we’ve breached but I don’t believe that it’s made public until beginning feb and then it has to go to a committee to decide our fate. I suspect we’d challenge and attempt to delay in any case. 

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Muzzy_no7

Muzzy_no7

Posted
Posted
45 minutes ago, STUHILL said:

So, depending what you read -
we have likely broken 23/24 PSR rules and will get a points deduction in January 

OR 

By selling KDH and getting compensation for Enzo and his team, we will be fine...

 

 

I think the total from selling the below:

 

Maddison

Castagne

Barnes

KDH

Enzo and staff

Hirst.

 

Will be enough to see us through. 

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1969

1969

Posted
Posted
9 minutes ago, Muzzy_no7 said:

I think the total from selling the below:

 

Maddison

Castagne

Barnes

KDH

Enzo and staff

Hirst.

 

Will be enough to see us through. 

I’m pretty sure Maddison is in the 2023 accounts as the transfer was June 2023.

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Wiggy Fox

Wiggy Fox

Posted
Posted
1 hour ago, STUHILL said:

So, depending what you read -
we have likely broken 23/24 PSR rules and will get a points deduction in January 

OR 

By selling KDH and getting compensation for Enzo and his team, we will be fine...

 

 

I thought a points deduction was completely out of the question now. Very unlikely. Leaves the door open to amend big in January and really go for it. 

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Ric Flair

Ric Flair

Posted
Posted
1 hour ago, st albans fox said:

The PL decide by mid jan if we’ve breached but I don’t believe that it’s made public until beginning feb and then it has to go to a committee to decide our fate. I suspect we’d challenge and attempt to delay in any case. 

Why the PL and not the EFL? Or because we've argued we weren't a PL club on 30th June 2023 for 22/23 PSR it now works that on 30th June 2024 we were a PL club for 23/24 PSR?

 

I can't fathom which would be best if either rules we've broken PSR for 23/24.

 

Surely we'd have got our house in order for 23/24 knowing how this would all blow up.

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Sunbury Fox

Sunbury Fox

Posted
Posted
9 minutes ago, Ric Flair said:

Why the PL and not the EFL? Or because we've argued we weren't a PL club on 30th June 2023 for 22/23 PSR it now works that on 30th June 2024 we were a PL club for 23/24 PSR?

 

I can't fathom which would be best if either rules we've broken PSR for 23/24.

 

Surely we'd have got our house in order for 23/24 knowing how this would all blow up.

You'd like to think so but can't say I trust the current regime. 

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STUHILL

STUHILL

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1 minute ago, The_77 said:

 

Da fook is going on?! 
Can we just scrap PSR now and get back to Football. 
This is beyond dumb by the Premier League and this must be the end of it. 
Other clubs should be thanking us after all is said and done. Leicester City, the PSR destroyers. 

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Jattdogg

Jattdogg

Posted
Posted (edited)

Rule 5.v.ii.iiiii  clearly states that we the EPL are dumb cvnts of the highest order followed directly by the EFL. It should also be noted that Simon Jordan is a t w a t. Further herewithin chat shit got banged.

 

 

Edited by Jattdogg
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Jimbo

Jimbo

Posted
Posted
5 hours ago, FrankieADZ said:

the uproar from that will be amazing to watch i think we can all agree on that if they do come out clean

Could do with something about their ruling being released soon, not a verdict or anything, but just something to take the focus off us. Can't be doing with all the moaning Everton and Forest fans banging on about it lol

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