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Leicester City's Financial Strain: Club Records £89.7m Losses Following Premier League Challenge.

Soccer General

Posted 3 months ago
Leicester City's Financial Strain: Club Records £89.7m Losses Following Premier League Challenge.

Leicester City's latest financial report reveals a substantial loss of £89.7 million for the 2022-2023 season alone. This adds to their overall losses from the past three Premier League seasons, which now exceed £215 million.

Last month, Leicester City faced charges for potentially violating profit and sustainability rules (PSR) tied to their recent financial figures. 

Premier League guidelines allow clubs to incur losses of up to £105 million across a three-year span.

Despite their relegation last season, Leicester managed to generate a £74.8 million profit through player sales. 

Susan Whelan, the club's chief executive, acknowledged the challenges faced in the 2022-23 season, labeling it as a significant setback with lasting effects.

Whelan stated, "After a period of sustained growth and success, this past season was a setback for the club, and its repercussions will be felt for some time. Our focus now is on rebuilding and aiming to return to the Premier League, where we had achieved notable finishes in previous seasons."

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