Maybe the first thing to point out though, is that this isn’t something that changes the PSR situation for Newcastle United, or indeed most other Premier League clubs, unless you get relegated, then if things aren’t changed NUFC could ‘benefit’, or indeed any other relegated club.
Basically, a loophole has been exploited, the badly drawn up Premier League rules allowing Leicester City to escape without punishment.
It appears perfectly clear that Leicester City’s PSR allowed losses for the three Premier League seasons of 2020/21, 2021/22 and 2022/23 were beyond the £105m limit.
However, the independent appeal board upheld Leicester’s appeal due to this loophole below.
‘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.’
Amateur hour at the Premier League.
A name very familiar with Newcastle United fans acting on behalf of Leicester City with this appeal…
Delighted to have acted for LCFC against the PL in this important appeal. https://t.co/pOEQHlpMTF
— Nick De Marco KC (@nickdemarco_) September 3, 2024
Yes, the excellent Nick De Marco, the one Leicester City have to thank, for exposing the incompetence at the top of the Premier League.
The equally excellent football finance expert weighing in afterwards, giving another knockout blow.
Kieran pointing out that the average cost of employing each person working at the Premier League is £141,000 per year.
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