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Leicester City have plunged towards the Championship relegation zone after being deducted six points for breaching financial regulations. The Foxes will drop to 20th in the Championship table, outside the drop zone on goal difference, after the deduction comes into effect.

They have been found to have breached Profitability and Sustainability Rules [PSR] for the 2023/24 season. Leicester made combined losses of over £200million across the three-year period ending in June 30, 2024. PSR regulations only allow a maximum loss of £81m over that period.

The club has long contested the charges brought by the Premier League. A hearing was held in November and an independent commission delivered its verdict on Thursday, adding to the current issues at the club.

Leicester currently sit in 17th place in the Championship table, with 38 points from 30 matches. But the six-point deduction will drag them right into the relegation battle, placing them on 32 points alongside Blackburn Rovers and West Bromwich Albion.

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Leicester said in a statement: "It is with disappointment that Leicester City acknowledges the Independent Commission’s decision and the Club will use the time available to consider its next steps.

"While the Commission’s findings significantly reduced the unprecedented scale of the sanction originally sought by the Premier League, the recommendation remains disproportionate and does not adequately reflect the mitigating factors presented, the importance of which cannot be overstated given the potential impact on our sporting ambitions this season.

"We appreciate the Commission’s agreement with the Club’s position that compliance for FY24 should be assessed over a 36-month period – an important point both for the period in question, but also in providing the Club with certainty on its PSR/P&S compliance for FY25. The panel also agreed there were no aggravating factors which should be applied to the sanction, which is something the Club had maintained throughout, and acknowledged the Club demonstrated a positive trend in its finances in FY24.

"We are now reviewing the decision in full and considering the options available to us. We remain committed to engaging constructively and ensuring that any action is fair, proportionate and determined through the appropriate processes."

The team is without a win in their last four league games and is currently without a manager following the sacking of Marti Cifuentes. Interim boss Andy King will lead the side in their next match, against Birmingham City, on Saturday.

The Premier League confirmed the charges against Leicester in May and the club were then accused of failing to provide their annual accounts before the deadline on December 31. They therefore incurred an additional charge of failing in their “obligation to provide full, complete and prompt assistance to the Premier League”.

In a statement, the EFL said: “The EFL notes the decision of the independent Disciplinary Commission, appointed under Premier League Rules, which has confirmed that Leicester City FC breached the Profit & Sustainability Rules in the three-year reporting period ending with Season 2023/24.

“On consideration of all relevant factors, the Commission has recommended a deduction of six points. The EFL Board has met to consider the decision and determined that the sanction should be applied to the Championship table with immediate effect.”

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