Leicester have been referred to an independent commission by the Premier League for an alleged breach of profitability and sustainability rules during their previous seasons in the top flight.
The Foxes – currently second in the Sky Bet Championship on goal difference, but with a match in hand on leaders Leeds – could face a points deduction if found to have broken the financial regulations.
A statement from the Premier League read: “The Premier League has today referred Leicester City FC to an independent commission for an alleged breach of Profitability and Sustainability Rules (PSRs) and for failing to submit their audited financial accounts to the League.
“The alleged breach relates to the assessment period ending season 2022/23, when the club was a member of the Premier League.
“Leicester City were relegated to the EFL Championship prior to the introduction of the Premier League’s new Standard Directions, which prescribe a timeline within which PSR cases should be heard.
“Therefore, the proceedings will be conducted in accordance with a timetable to be set by the independent commission, and its final decision will be published on the Premier League’s website.”
Leicester, who also face a financial investigation from the EFL, issued a statement following the Premier League charges defending the club’s position.
A statement read: “Leicester City is surprised at the actions the Premier League has taken today.
“The club is extremely disappointed that the Premier League has chosen to charge LCFC now, despite the club’s efforts to engage constructively with the Premier League in relation to the matters that are the subject of this charge, even though LCFC is not currently a Premier League club.
“LCFC remains willing and eager to engage constructively with the Premier League and the EFL to seek the proper resolution of any potential charges, by the right bodies, and at the right time.
“The club continues to take careful advice about its position and, if necessary, will continue to defend itself from any unlawful acts by the football authorities, should they seek to exercise jurisdiction where they cannot do so, as occurred earlier this year.
“LCFC has repeatedly demonstrated its commitment to the P&S rules through its operating model over a considerable period, achieving compliance while pursuing sporting ambitions that are entirely credible given the consistent success that the club has achieved in that time, both domestically and in European competition.
“As we continue to represent the club’s position, we will continue to fight for the right of all clubs to pursue their ambitions, particularly where these have been reasonably and fairly established through sustained sporting achievement.
“The club thanks its supporters for their understanding in this matter and for their continued support for our team, whose success on the pitch during the final weeks of the season remains our primary focus.”
Nottingham Forest were deducted four points after being found to have broken Premier League financial regulations, which saw them drop into the relegation zone.
Everton, meanwhile, saw an initial 10-point deduction for breaching profitability and sustainability rules reduced down to six following an appeal, but also face a second case.
'Super simple' – Lille president rules out January exit for Jonathan David
Lille president Olivier Letang has categorically ruled out a January exit for forward Jonathan David amid links with a number of European clubs.
David is out of contract at the end of the season and has been touted as a target for the likes of Bayern Munich, Juventus and Barcelona.
Speaking this week, the Canada international named Barcelona as his "dream" club but suggested he would prefer not to leave Lille mid-season.
And in an interview with After Foot RMC, Letang confirmed no bids have yet been tabled ahead of the January window.
"We are not going to sell him in January, and we have not received any offer for him," he said.
"Jonathan's situation is super simple. We are very happy to have him with us.
"Last season he had one more year left on his contract. We were trying to qualify for the Champions League.
"You have a guy who scores 20 to 25 goals a season. We had no obligation to sell him."
David is into his fifth season with Lille and has scored 97 goals in 202 games for the Ligue 1 side in all competitions while assisting a further 18.
Seven of those goals have arrived in 11 appearances this term, including in Champions League games against Real Madrid, Atletico Madrid and Juventus.
The 24-year-old's best league season with Lille saw him score 24 goals in 2022-23, while he has netted 19, 15 and 13 in the other full campaigns.
Lille chief Letang reiterated that David has been offered a new deal to stay on at Stade Pierre-Mauroy, but selling him has never been an option.
"He is a player who scores between 20 and 25 goals and helps us qualify for the Champions League," he said.
"Plus, Jonathan loves Lille, which is his club. Our position was very clear from the beginning – we think of the athlete.
"Obviously, he already has an offer that is in his hands, the ball is in his court."
Guardiola suggests Man City's recent form played part in signing new contract
Pep Guardiola suggested Manchester City's run of four successive defeats was part of the reason for his contract extension.
The 53-year-old recently signed a two-year deal, which will run out in 2027, ending months of speculation about his future after his contract had been due to run out at the end of the campaign.
Following a 2-1 defeat to Brighton before the international break, Guardiola's side have lost each of their last four matches in all competitions for the first time in his managerial career.
"I felt I could not leave now. Maybe the four defeats was why," he told the club's website.
"I think we deserve, after four defeats in a row, to bounce back and try to turn the situation. I think we deserve to be here. I am not arrogant to say, but it's the truth."
Guardiola has led Manchester City to 18 major trophies during his nine-year stint at the club and posted a 72% win ratio.
He added that he was determined to help the club get back to a state where they are "more stable and more consistent".
"We have to recover that because right now we don't have it and that's the target we have to do," he said.
City chairman Khaldoon Al Mubarak added: "Like every City fan, I am delighted that Pep's journey with Manchester City will continue, allowing his dedication, passion and innovative thinking to continue to shape the landscape of the game.
"His hunger for improvement and success remains insatiable and the direct beneficiaries of that will continue to be our players and coaching staff, the culture of our club, and the English game at large."
Leicester's Fatawu ruled out for rest of season with ACL injury
Leicester City manager Steve Cooper confirmed Abdul Fatawu will miss the rest of the season.
The 20-year-old sustained an anterior cruciate ligament injury (ACL) while playing for Ghana against Angola during the international break.
Fatawu has featured in all 11 of Leicester's Premier League matches so far this season and has registered two assists.
No Leicester player has attempted (61) or completed (29) more dribbles than him, while his 30 crosses is also a team-high in the top-flight this season.
"It's not good, it's a serious injury," said Cooper ahead of their match against Chelsea on Saturday.
"It's a real blow, first and foremost for him, being a young player and having an injury as serious as what an ACL is.
"Albeit, it can be quite common in sport, and in particular football, but it's still a serious injury.
"For it to happen at a young age is a blow for him and a blow for us as well.
"He's obviously a big talent and a young player, as exciting as he can be at his age, with lots to learn.
"It's only a pause, and we will make sure, as difficult as it is at the moment for him, that he comes back being a stronger player and person, which, with the mentality and character that he has, I think will be the case."
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