Leicester Report £19.4m Loss as Financial and On-Field Struggles Continue

Posted : 02 April 2025

Leicester City have reported a financial loss of £19.4 million for the 2023-24 season, which they spent in the Championship. This marks a significant improvement from the club’s previous deficits of £92.5 million in 2021-22 and £89.7 million in 2022-23, figures that led to their charge by the Premier League for an alleged breach of profit and sustainability rules (PSR).

Leicester successfully appealed the charge by arguing that, since they were in the EFL when it was issued, the Premier League had no jurisdiction to impose sanctions. However, uncertainty remains over whether the EFL will pursue a PSR charge for the three-year period ending in 2022-23.

A Premier League statement in January indicated that the jurisdiction issue was subject to confidential arbitration proceedings, leaving Leicester's situation unresolved. The outcome of this process is unlikely to be determined before the club discovers which division they will compete in next season, as they currently sit 12 points above the relegation zone.

Premier League financial regulations permit clubs to lose up to £105 million over three years, with reductions for years spent in the EFL, while EFL rules limit losses to £39 million over the same period. If Leicester were to be relegated again, their maximum permitted loss for their 2024-25 accounts would be £83 million, reflecting two seasons in the top flight and one in the Championship.

The club’s financial situation has been eased by key player sales, including Harvey Barnes’ £38 million transfer to Newcastle and Timothy Castagne’s £15 million move to Fulham in 2023. Additionally, the £10 million compensation received from Enzo Maresca’s departure to Chelsea last summer has helped mitigate losses.

Leicester’s latest accounts also include the £30 million sale of Kiernan Dewsbury-Hall to Chelsea in the summer of 2024. Chief executive Susan Whelan acknowledged that the club still has work to do to reclaim its past successes but emphasized their ability to adapt to challenges as they plan for the future.

On the pitch, Leicester have struggled significantly, losing 13 of their last 14 matches ahead of their visit to Manchester City on Wednesday. Steve Cooper was dismissed as manager in November and replaced by Ruud van Nistelrooy, but the former Manchester United forward has won only three of his 18 games in charge. Fans have voiced their frustrations with the club’s management, directing criticism at director of football Jon Rudkin, who has faced mounting pressure throughout the campaign.

Leicester Report £19.4m Loss as Financial and On-Field Struggles Continue

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