06 March 2024 , 20:59
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Leicester City could be forced into the crazy position of selling off their stars AFTER promotion to avoid breaching financial rules.
That’s the scenario facing the Foxes due to a row over ongoing profit and sustainability issues. The club is fighting to stay within the limits accepted by the Football League.
And the only way to do so before their accounts for the year end is complete is to give the green light to a fire sale of Enzo Maresca’s squad AFTER the season’s end. That would enable them to reduce their losses within the permitted £83m allowable.
Leicester have been arguing with the Football League over whether they have to submit a business plan that will forecast their figures to the end of June. After a review by an independent panel, it turns out that they don’t.
But what has come to light is their necessity to make good the accounts before the start of the next financial year. That means boss Maresca may need to entirely re-build his squad raising cash to reduce the losses should the Championship table-toppers drag themselves over the line.
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A statement from the Football League read: “Leicester City is responsible for meeting its obligations in respect of the P&S Rules which will be assessed along with the submissions of all other Clubs in accordance with the League’s established processes.“
A statement in response from the club read: “Leicester City confirms it is in discussions with the Football League over its P&S calculations.”
Leicester boss Enzo Maresca may be forced to rebuild his squad after promotion (MI News/NurPhoto/REX/Shutterstock)Leicester currently find themselves three points clear at the top of the table despite suffering three successive league defeats prior to Tuesday night's 1-0 win at Sunderland. Jamie Vardy's early goal proved to be decisive and help the Foxes keep some distance between them and closest chasers Ipswich Town, who are two points ahead of Leeds United in third.
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