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English club Leicester have won their appeal against a decision that could have led to points being deducted for allegedly breaching the Premier League's spending cap, the team confirmed.
An independent appeals board overturned an earlier ruling by a commission that the club had exceeded the £105m loss threshold over three seasons under the Premier League's profitability and sustainability rules.
It revealed that the Foxes' accounting period actually ended on June 30, 2023, a month and two days after they were relegated from the first division, meaning the Premier League had no jurisdiction to rule on the matter.
" To avoid any misunderstanding that may arise in light of the statement that has been issued by the Premier League in response to the appeal decision, Leicester City would like to emphasize the finding of the Appeal Panel that when considering the wording actually used in the rules of Premier League (in accordance with established principles of English law), the club has not breached the Premier League PSRs (profitability and sustainability rules) for the assessment period ending 30 June 2023 ," the club said in a statement.
The club was first referred to an independent commission by the Premier League in March. The commission rejected the club's initial challenge to its jurisdiction to hear the case.
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