The Points Leicester stand to lose if appeal goes against them

LE2 has witnessed its share of fairy tales, but the story unfolding around Leicester City feels far more like a warning about the perils of modern football finance and overreach.

With the club now facing a crucial appeal over a six-point deduction, supporters are left questioning how an organisation once praised for stability has found itself in the crosshairs of the Premier League’s Profitability and Sustainability Rules (PSR), seemingly ahead of others.

The financial slide began with an aggressive push to challenge the Premier League’s established elite. Significant spending on a squad that ultimately failed to justify the investment, alongside a wage bill befitting a European contender, collided with substantial losses in 2022.

The financial strain deepened the following year, and by the time relegation arrived, the damage was done. Although the club secured a legal reprieve in late 2024 when sports lawyer Nick De Marco successfully argued that the league lacked jurisdiction at a specific reporting cutoff fresh charges relating to the 2023–24 period soon followed, including allegations of excessive spending and late financial submissions.

For many supporters, the situation feels particularly bitter. While Leicester are battling the immediate sporting consequences of sanctions that have dragged them into a Championship relegation fight, high-profile financial cases involving Manchester City and Chelsea continue to move at a slower pace, fuelling perceptions of inconsistency.

Reporting from ITV journalist Dan Salisbury-Jones indicates that both the club and the Premier League have submitted appeals, each seeking a different outcome, with league officials keen for a swift resolution.

Financial expert Stefan Borson has also weighed in, warning that the review process carries real risk. While Leicester are attempting to reduce the existing six-point penalty, the league’s counter-appeal could potentially increase it.

The worst-case scenario would see the Appeal Board side firmly with the Premier League on technical reporting breaches, potentially adding a further one or two points to the sanction a development that could transform an already difficult survival bid into a near-impossible task.

Borson has suggested an additional one- or two-point deduction is plausible if the appeal fails, possibly alongside a financial fine, while Salisbury-Jones has indicated that a single extra point may be more likely.