Championship club Leicester City might be staring at a potential points deduction next season for allegedly breaking the profit and sustainability regulations, according to a report in The Guardian.

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English Football League (EFL) is of the view that Leicester City are on course to break financial rules relating to the current season. The club was expected to submit its 2023-24 accounts by March 1 which it hasn’t done so far.

The league’s independent club financial reporting unit (CFRU) said it was anticipating a breach in numbers. 

“Leicester City is responsible for meeting its obligations in respect of the P&S rules which will be assessed along with the submissions of all other clubs in accordance with the league’s established processes,” read an EFL statement.

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Foxes break spending limits 

According to The Sun, Foxes reportedly broke “top division’s £105 million ($134 million) loss limit for the three years ending last season”. Furthermore, there is a belief that Leicester might eclipse the limit of combined losses for the three years that end this season, which stands at £83 million ($106 million).

The Foxes currently sit atop the points table and look set for promotion to the Premier League next season. However, if the investigation yields the results that EFL is anticipating, it could mean a points deduction as well as imposition of hefty fines. 

Currently, the Premier League is tightening the noose around the clubs in the division for breaking the PSR rules. Everton has already been docked 10 points (reduced to 6) with Nottingham Forest also coming under scrutiny. 

Leicester, whose losses over three past seasons excluding the last have been posted at at least £141.75 million ($181.2 million), could face a similar sanction to Everton.

The 2015 Premier League champions have a three-point lead at the top of the Championship, with Ipswich Town breathing down their neck. The team is also in FA Cup quarter-finals and could raise money if it progresses further. With the contracts of players such as Jamie Vardy, Kelechi Iheanacho and Wilfred Ndidi expiring at the end of the season, Foxes might be hoping to further balance the books. 

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