Everton’s former chief executive Keith Wyness anticipates that Leicester City will soon receive a verdict from the Premier League regarding their profit and sustainability (PSR) case.
Speaking on Football Insider’s Inside Track podcast, Wyness, who served as CEO at Goodison Park from 2004 to 2009 and now advises elite clubs through his football consultancy, suggested that Leicester has made significant squad improvements despite their precarious financial situation.
In March, Leicester City was charged with breaching the Premier League’s PSR rules for the 2022-23 season, with a points deduction likely on the horizon.
The club reported losses of £89.7 million for 2022-23, surpassing the £105 million loss limit permitted over a rolling three-year period for top-flight teams.
Despite these financial troubles, Leicester continued to invest heavily during the summer transfer window, spending over £70 million on nine new players. This approach indicates the club’s determination to bolster their squad as they face potential sanctions.
Wyness believes that Leicester’s strategy is aimed at ensuring their Premier League survival while they contest the PSR charges. He explained on the Inside Track podcast,
“My position has always been that Leicester would rather fight this when they are in the Premier League. If they have got a strong squad and they can try and stay in the Premier League, that will give them more financial resources to fight any battle as well.”
He continued, “Any club would rather fight it from being in the Premier League rather than being in the Championship, so I think they are doing their best to try and do that. They have had a rocky start to the season. There is no news yet, but I do expect news coming quickly from the Premier League regarding timings and where we are going to go with this. We will be watching the Leicester space quite closely.”
Leicester City’s efforts to secure their Premier League status appear crucial as they prepare to challenge the looming PSR case, knowing that their top-flight survival could provide the financial clout needed to mount a stronger defense.