The English Football League is reportedly facing pressure from several Championship clubs to sanction Leicester City, following confirmation of their massive financial losses from last season. Leicester published their accounts for the 2022/23 season on Tuesday evening, announcing a massive £89.7million loss. It is their second straight year of major losses, having confirmed a £92.5m deficit for the 2021/22 campaign.
Leicester have already been placed under a transfer embargo by the EFL, prohibiting them from signing any new players, but there are frustrations among some second-tier clubs that the club’s financial mismanagement has given them an unfair advantage in the promotion race. A number of current players were signed during the three-year period in which they seem to have breached profitability and sustainability rules.
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