KARMA: Premier league club which mocked Everton over their FFP charges has now been hit by PSR and will face……

Leicester City has been formally charged with a violation of the Premier League’s Profitability and Sustainability Rules (PSR), while Everton is bracing for the repercussions of a second set of charges against them.

Reports earlier in the month indicated that Leicester City, who were relegated from the Premier League at the end of the 2022/23 season, could face charges for not adhering to financial regulations during the three-year cycle that concluded with that season. The Premier League has now verified that the club has been referred to an Independent Commission due to breaches of the PSR and for not providing their audited financial statements to the league.

The Premier League issued a statement explaining, “Leicester City FC has been referred to an independent Commission for an alleged breach of the Profitability and Sustainability Rules and for failing to submit their audited financial accounts to the League. The alleged breach is for the period ending with the 2022/23 season, during which Leicester City was a member of the Premier League.”

Since Leicester City was relegated before the Premier League implemented new Standard Directions that outline a timeline for PSR cases to be heard, the proceedings will follow a schedule determined by the independent Commission. The final decision will be made public on the Premier League’s website.

This season, Leicester becomes the third club to face charges from the Premier League. Everton initially received a 10-point deduction for financial breaches, which was later reduced to six points. Nottingham Forest also faced a four-point deduction confirmed earlier in the week, with their breach amounting to £34.5 million compared to Everton’s £19.5 million.

Everton is currently dealing with a second charge, and the outcome of their upcoming hearing could lead to further sanctions being applied within the current season.

The hearing for Leicester City is slated to occur later in the month. As it stands, Sean Dyche’s Everton team is positioned 16th in the Premier League, just four points clear of the relegation zone.