Leicester report almost 90 billion pounds in losses after PL charge

Leicester City have admitted a loss of 89.7 million pounds for the 2022-23 campaign – taking total losses for their last 3 EPL seasons to over 215 million pounds.

#lcfc announce huge £89.7m losses for 22/23 (92.5m last year). Player sales inevitable before Jun30 to avoid further breaches
🔵 highest wage bill outside Big 6
🔵 unplanned cost of Rodgers payoff
🔵 losses INCLUDE Fofana/Maddison
🔵 “financial challenges”https://t.co/kpxoPqgYM7

— John Percy (@JPercyTelegraph) April 2, 2024

The club was charged in March for allegedly breaching profit and sustainability rules because of the information that now became public.

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Top-flight rules permit teams to lose no more than 105 million pounds over a 3-year period.

Despite Leicester making almost 75 million pounds profit in footballers sale, they registered huge financial losses.

The Foxes labeled the relegation to the Championship a “disappointing and unanticipated decline”, as the former Premier League champions had finished 8^th, 5^th and 5^th in the EPL in the previous 3 campaigns.

Leicester received 70 million pounds for the transfers of Wesley Fofana to Chelsea two 2 years ago and James Maddison who was sold for 40 million pounds in the past summer to Spurs.