Premier League clubs avoid 2023-24 PSR charges
2025-01-14
Category: sports

The Premier League has not charged any clubs for breaches of its financial rules after all were deemed financially compliant for the 2023-24 season. Most top-flight clubs had to submit their accounts for the 2023-24 season by 31 December and the Premier League is satisfied that all 20 members have remained within their profit and sustainability (PSR) rules.Under PSR regulations, clubs cannot post losses of more than Â£105m over a three-year period. Everton and Nottingham Forest were both sanctioned last season for PSR breaches, and were docked eight and four points respectively. Leicester City avoided a points deduction after they won an appeal against a charge in September, which covered the three years up until the end of the 2022-23 season.An independent panel found the Premier League did not have the jurisdiction to punish the Foxes as the club had been relegated to the EFL Championship when their accounting period ended on 30 June 2023.In a joint statement on Tuesday, Leicester and the Premier League said the matter remains "the subject of confidential arbitration proceedings". It had been reported that the Foxes were one of a number of clubs close to breaching the Premier League's margins for allowed losses.Chelsea, who spent Â£747m in the 2022-23 season alone, sold their women's team to the club's parent company on June 28 2024 - two days before the end of their financial year - in order to boost their finances.The Blues' sale of two hotels next to Stamford Bridge to a sister company for a fee of Â£76.5m was cleared by the Premier League in September. 
More to follow.