New Delhi: The Premier League has confirmed that no clubs have been charged for breaching its financial rules after all were deemed for the 2023-24 season. After reviewing the financial reports submitted by all 20 top-flight clubs by the December 31 deadline, the league has determined that all clubs are in compliance with its profit and sustainability regulations.
According to the PSR rules, clubs cannot report losses exceeding £105 million over a three-year period. Last season, Everton and Nottingham Forest faced penalties for breaching these financial limits. Everton had eight points deducted while Nottingham Forest was docked four points.
Previous breaches and Leicester City’s appeal
However, Leicester City managed to avoid a points deduction after successfully appealing a charge in September related to their financials for the three years ending in the 2022-23 season.
The independent panel ruling on the case decided that the Premier League did not have the authority to impose sanctions on the Foxes as they had been relegated to the EFL Championship when their accounting period ended on June 30, 2023. Leicester and the Premier League both stated that the matter is now subject to confidential arbitration proceedings.
BREAKING: No Premier League clubs have been charged with Profit and Sustainability ruling breaches 🚨
Arbitration is ongoing to determine whether the league had jurisdiction over Leicester City relating to the 2022/23 season. pic.twitter.com/jocnKSDhf4
— Sky Sports News (@SkySportsNews) January 14, 2025
There were reports that Leicester was one of the clubs close to breaching the Premier League’s loss limits. Meanwhile, Chelsea, who have spent £747 million during the 2022-23 season, took steps to improve their financial situation by selling their women’s team to the club’s parent company on June 28, 2024, just before the end of their financial year. They also sold two hotels near Stamford Bridge to a sister company for £76.5 million, which was approved by the Premier League in September.
Compliance for 2023-24 and future financial regulations
Overall, the Premier League is satisfied that all clubs have complied with the financial rules for the 2023-24 season, with no further penalties being handed out. The Premier League clubs have also agreed to trial an alternative financial system for the 2024-25 season, which operates like a spending cap.
The two other rules- Squad Cost Rules (SCR) and Top to Bottom Anchoring Rules (TBA) will operate alongside Profitability and Sustainability Rules (PSR) on a “non-binding basis”. Teams are not permitted to spend more than 85% of their total revenues on the squads as per the new system.
After previous PSR breaches and point deductions, the Premier League confirms all clubs met financial rules for 2023-24. New spending cap rules are also being trialed. Football Sports News: Latest Cricket News, Cricket Live Score, Sports Breaking News from Sports Today
