The Premier League has accused Leicester City of violating spending regulations throughout their previous three seasons in the top division.

Due to their failure to provide audited financial statements and their violation of the profit and sustainability regulations (PSR), Leicester has been referred to an independent commission.

The Championship’s top scorers can lose points if found guilty.

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The English Football League (EFL) is conducting a separate financial investigation into the Foxes.

The timing of the Premier League’s measures, given that Leicester is not in the top flight, has left the club “surprised” and “disappointed,” according to the demoted team at the end of the previous season.

Should the football authorities attempt to exercise jurisdiction in a situation where they are unable to do so, the club stated that they would “defend” themselves.

“LCFC remains willing and eager to engage constructively with the Premier League and the EFL to seek the proper resolution of any potential charges, by the right bodies, and at the right time,” the Foxes stated in a statement.

Although Leicester has not yet released its financial statements for their final Premier League season, they lost a club-record £92.5 million in the 12 months leading up to May 2022.

The club recorded a £33.1 million pre-tax loss the previous year, the year they won the FA Cup for the first time.

According to premier league regulations, clubs can lose up to £105 million in three years, or £35 million every season, before they are subject to fines.

When the year first began, Leicester was leading the Championship standings and leading third-place Southampton by 13 points. It appeared as though Leicester would easily return to the Premier League.

However, a run of bad results, which includes just one victory in their last five league games, has allowed Leeds to pass them in the standings.