Leicester City have just published their latest accounts for the 2023/24 season.
Leicester have been restricted by PSR issues over the last few years but managed to avoid a points deduction this season.
Nick De Marco successfully appealed Leicester’s PSR case in September based upon the fact the Premier League did not have the jurisdiction to punish the club, who plied their trade in the Championship last term.
Many anticipated Leicester to breach for a second time earlier this year, but they successfully avoided another potential points dock.
City’s latest accounts make for better reading, but TBR’s finance expert Adam Williams explains that they could still be hit with two separate punishments.
Leicester City still face PSR punishments after latest accounts
Speaking exclusively to Leicester City News, Adam Williams has explained why the Foxes are still facing two possible PSR punishments relating to the 2022/23 and 2023/24 assessment windows.
“We know that, as things stand, Leicester haven’t breached PSR for 2023-24 despite them being the one club for whom things were looking really tight,” Williams told the site.
“It’s the previous season, or rather the three-year window that finished with the previous season, that was the main concern for them.
“As Leicester fans will be aware, it’s a case of jurisdiction with regards to the Premier League and EFL’s separate PSR systems.
“They managed to avoid breaching the Premier League rules on a technicality in 2022-23 by moving the year-end financial reporting period to 30 June, when they were technically an EFL club again following relegation at the end of that season.
“Now, in 2023-24, Leicester have reduced their losses to £19m, which eases anxieties around PSR for the 2024-25 assessment window but doesn’t clear things up with regards to the previous three-year monitoring period.
“If they lose the jurisdiction argument then they are probably over the £105m allowable loss threshold for 2023-24, as well as 2022-23.
“That said, we have no idea as to the status of the dispute with the Premier League. I’d expect this one to rumble on for a bit yet.”
Leicester owner remains committed to turning fortunes around
Evidently, it’s been a difficult few years for Leicester, who are staring down the barrel of a second relegation in three seasons.
| Position | Team | Played MP | Won W | Drawn D | Lost L | For GF | Against GA | Diff GD | Points Pts |
| 17 |  WolvesWolves | 30 | 8 | 5 | 17 | 41 | 58 | -17 | 29 |
| 18 |  IpswichIpswich | 29 | 3 | 8 | 18 | 28 | 62 | -34 | 17 |
| 19 |  LeicesterLeicester | 29 | 4 | 5 | 20 | 25 | 65 | -40 | 17 |
| 20 |  SouthamptonSouthampton | 29 | 2 | 3 | 24 | 21 | 70 | -49 | 9 |
The club’s decline has led many fans to question whether Khun Top is still committed, and in Wednesday’s statement, those concerns were addressed.
“The long-term, financial security required for the Club to re-establish its wider position of strength continues to be provided by our Chairman, Aiyawatt Srivaddhanaprabha, whose overall investment in the Club since 2010 now exceeds £420M, following a latest conversion of debt into equity in January 2025,” Leicester’s announcement read.
Quite clearly, Top, who is still respected and admired by many supporters, has pumped a substantial outlay of cash into the football club, which must be commended.
The main task for the Leicester chairman is ensuring he has the right advisors, which may not be the case at the moment.
Leicester fans have protested against current sporting director Jon Rudkin.