The Premier League will not issue any new charges against its clubs over breaches of its financial rules for the 2023/24 campaign but has confirmed it remains in dispute with Leicester over a charge brought last season.
The PA news agency reports no clubs have been issued with a complaint for a breach of the profitability and sustainability rules (PSR) in relation to accounts submitted for 2023/24 by the December 31 deadline.
However, the league has confirmed a dispute over whether it had jurisdiction to charge Leicester in March last year remains ongoing.
An appeal board ruled last September that the league did not have jurisdiction in relation to Leicester’s 2022-23 submission because the club were in the EFL when the accounts were submitted.
The Premier League said at the time it was “surprised and disappointed” by that decision and confirmed on Tuesday the case had not concluded.
“Issues as to the jurisdiction of the Premier League over Leicester City Football Club in relation to PSR compliance are currently the subject of confidential arbitration proceedings,” a league statement said.
“Accordingly, neither the league nor the club will make any further comment at this stage about any aspect of the club’s compliance or otherwise with any of the PSR or related rules, save to say that no complaint has been brought against Leicester by the league for any breach of the PSRs for the period ending season 2023-24.”
Leicester could still face charges
There is thought to be a possibility that Leicester could still face charges in relation to 2023-24 at a later stage, dependent on the outcome of the ongoing arbitration proceedings.
Tuesday marked the deadline when any complaints had to be issued under the league’s fast-track ‘standard directions’ for PSR, whereby the whole process – including appeals – have to be wrapped up by June 1, before the handover of Premier League ‘shares’ from relegated clubs to promoted clubs.
Everton and Nottingham Forest were the subject of complaints under the standard directions this time last year and were ultimately docked two and four points respectively.
Everton dispute ongoing
The PA news agency reports a dispute between Everton and the Premier League over stadium interest payments remains ongoing.
At the time Everton were deducted two points last April over the admitted PSR breach, it was revealed in the commission’s written reasons that the dispute over interest payments was being deferred.
Sources close to Chelsea’s owners had expressed confidence in recent weeks that they were compliant, and so it has proved.
The club were confident they were operating within league regulations in selling two hotels to a company linked to their owners.
League rules permit the sale of ‘fixed tangible assets’ to associated parties, provided the sales are done at fair market value. The PA news agency reported in September that the sale of two hotels to a company linked to the club’s owners had received Premier League approval.
Chelsea have also sold the women’s team to the club’s parent company, a deal which is also subject to Premier League scrutiny.
PSR is set to be replaced by a new set of financial rules for next season. Clubs will instead be limited to spending 85 per cent of revenue on squad-related costs – dropping to 70 per cent for those involved in UEFA competitions in order to comply with the rules at continental level.
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