Leicester are set to be charged by the Premier League over alleged breaches of its financial regulations, the PA news agency understands.
The club could be charged as early as next week.
Clubs are not permitted to exceed losses of £105million over the assessment period ending 2022-23 under the league’s profitability and sustainability rules (PSR).
The Foxes, who are currently top of the Championship, are set to publish audited accounts covering last season at some point this month and were required to also submit these to the Premier League.
Leicester’s relegation last May meant they had lost their Premier League share prior to the league’s annual general meeting last June. They were therefore not subject to the new standard directions for PSR agreed at that meeting. It was under those standard directions that PSR complaints were laid against Everton and Nottingham Forest in January.
The aim of the standard directions is for all complaint processes to be finished, inclusive of appeal outcomes, before June 1, when promoted teams gain their Premier League shares.
However, even under the old rules, the Premier League could push for an expedited hearing to have Leicester’s case concluded before the end of this season should they be charged, as they did in March last year after Everton were charged with a PSR breach concerning the period ending 2021-22.
The independent commission in that case rejected the Premier League’s request, deciding it would be “unrealistic” to expect the proceedings and any appeal to be determined in the current season.
It further stated that to compel Everton to attempt to meet such a timetable would run the risk of procedural unfairness. The case was ultimately heard last October, with the initial 10-point sanction handed down the following month.
If the commission reached a similar decision regarding Leicester, it would mean the club could seal promotion back to the Premier League and only be sanctioned once in the top flight.
Any club relegated from the Premier League from this season onwards will be subject to the standard directions signed off last June.
Leicester recorded losses of £92.5million for the year ending May 31, 2022.
The EFL’s independent club financial reporting unit (CFRU) concluded in November that Leicester were forecasting to breach EFL Profitability and Sustainability (P&S) loss limits for the three-year period ending with financial year 2023-24.
The CFRU determined the club should submit a business plan to demonstrate how it planned to comply with P&S rules, but an independent panel found Leicester was under no obligation to submit and agree to a business plan.
The club issued a statement on Wednesday welcoming the panel finding, and added: “Leicester City confirms it is in discussions with the football authorities regarding its profitability and sustainability calculations.
“Notwithstanding the CFRP’s decision, the club remains committed to seeking an appropriate overall outcome in this matter.”
Vardy eyes 100-point season after Leicester's title win
Jamie Vardy has challenged his Leicester City team-mates to reach 100 points after sealing the Championship title with one game to spare.
The Foxes were promoted back to the Premier League without kicking a ball after Leeds United’s 4-0 defeat to QPR on Friday, but they needed to win on Monday to earn top spot.
Enzo Maresca’s side cruised to a 3-0 victory over Preston through Vardy’s brace and Kasey McAteer’s header, moving them to 97 points.
With one last milestone in their reach, Vardy wants to make sure they end an already successful season on a high.
Speaking to Sky Sports, he said: “We can celebrate it tonight, but now we have another target which is 100 points.
“We are over the moon. It has gone by quick but it's a graft. Not many days off, I'll tell you that.
“The lads - they've given it all. Thoroughly deserved, and I'm glad we've had 5000 to come and celebrate with us. It's not like it's 20 minutes up the road."
After a run of just three victories from nine games in the league between mid-February and April, Leicester have now won each of their last three outings.
Maresca has praised his players for their hard work in what he labelled a “tough season”.
“Fantastic, it's been a fantastic season. The Championship is a tough season and very intense, but I'm very happy," said Maresca.
"Now it's time to enjoy the work of the season to bring this special club back to the Premier League. We deserve it.
“The last two days they have been fantastic. We got promoted, but it was difficult in game preparation. But we used all of today to prepare for the game, the morning and afternoon. It was good.”
Barcelona 4-2 Valencia: Lewandowski hat-trick leads Barca to 4-2 win over 10-man Valencia
Barcelona striker Robert Lewandowski scored a second-half hat-trick to help his side fight back to claim a hard-fought 4-2 win over Valencia, who were leading 2-1 when they were reduced to 10 men just before the break.
Fermin Lopez's header from a Raphinha cross put Barca in front after 22 minutes, but Valencia's Hugo Duro struck in the 27th and Pepelu scored from the spot after a foul by Ronald Araujo 11 minutes later to give the visitors the lead.
But after Valencia keeper Giorgi Mamardashvili saw red for a handball outside the box before the break, Xavi's side dominated and Lewandowski scored with two headers from corners in the 49th and 82nd minutes before getting his treble with a free-kick in added time.
The win postponed Real Madrid's almost inevitable LaLiga title celebrations for a couple of weeks as Carlo Ancelotti's side sit atop the standings on 84 points.
Barcelona moved back to second in LaLiga on Monday with 73 points as they leapfrogged surprise package Girona, who are third with 71. Those two teams will meet in a Catalonia derby on Saturday.
Data debrief
Barcelona conceded two goals in the first half of a home game for the second time this season, after also doing so against Girona in LaLiga in December 2023.
However, Lewandowski's goals have been invaluable to La Blaugrana this season as he's earned 17 points with his 16 goals in the league.
Preston 0-3 Leicester City: Foxes seal Championship title in style
Leicester City cruised to a 3-0 win over Preston in the Championship on Monday to clinch the title with a game to spare.
Jamie Vardy was the star for the Foxes as he scored in both halves before Kasey McAteer made sure of the points with an unmarked header.
Abdul Fatawu had the chance to cap an already memorable night for the travelling fans but hit the post with his curler.
Preston slumped to a fourth consecutive defeat, while Leicester go into their final game against Blackburn Rovers with the knowledge that they will lift the trophy after the final whistle.
Data Debrief
Jamie Vardy has scored 18 goals this season (two in this game), more than any other Leicester player in the competition. He has also netted in his last three games, scoring four goals in total.
It was a dominant performance from the Foxes, who had 19 shots with 11 of those on target. At the other end, Preston only managed to test Jakub Stolarczyk once from their five attempts.
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