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A Premier League statement read: "The Premier League has today (March 21) 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."
Read HERE
"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."
Read HERE
