Everton’s former CEO, Keith Wyness, has claimed that Leicester City have avoided a six to nine-point deduction for breaching Profit and Sustainability Rules (PSR).
Speaking on Football Insider’s Inside Track podcast, Wyness, who ran Everton from 2004 to 2009 and now advises top clubs through his consultancy, suggested Leicester have been “clever” but should still have been punished, stating, “common sense tells you that’s right.”
Leicester were charged in March with violating the Premier League’s PSR for the 2022-23 season after posting losses of £89.7 million, while the league permits losses of only £105 million over a three-year period.
However, Leicester argued that by 30 June 2023, when they submitted their accounts, they were no longer a Premier League club, having been relegated to the Championship.
Although an independent commission initially rejected Leicester’s defence, the club announced in a statement on 3 September that their appeal had been successful. As a result, Leicester will not face a points deduction for their financial breach during the 2022-23 season.
Wyness on Leicester’s ‘Bullet Dodging’
In the Inside Track podcast, Wyness commented: “It’s the correct reading of the rules, which were drafted badly. Leicester have been savvy, to a degree. All they had to do was look at the rulebook, and it was pretty clear they would be outside the rules if they extended their accounting period.
“It wasn’t the most brilliant legal manoeuvre, but it was certainly clever. I don’t blame Leicester at all. They appear to have escaped.
“The Premier League and EFL have come out to say bad things about the club, but nevertheless – it seems they’ve got away with it.
“If these rules are in place, they’ve got to be so you can be caught between leagues because common sense tells you that’s right.
“The points deduction could have been between six and nine points, so they’ve really dodged a bullet.”
Leicester’s successful appeal has allowed them to sidestep what could have been a severe penalty, adding another layer of complexity to discussions on football’s financial rules.