It’s not just the Premier League that is bracing for a thrilling three-horse title race over the next few weeks: the Championship is also playing host to an exciting three-way battle as Leicester City, Leeds United and Ipswich Town jostle for the two automatic promotion spots.
Remarkably, all three teams could finish on more than 100 points in what is one of the most relentless promotion races in recent history.
As usual in the Championship, there are narratives galore, but recent developments at the King Power Stadium mean Leicester’s quest for promotion is being played amidst a backdrop of uncertainty.
That’s because Enzo Maresca’s men face the prospect of starting the 2024/25 season with a points deduction… whatever league they find themselves in.
The Foxes, who won the Premier League in 2016 and the FA Cup three years ago have swallowed heavy financial losses in recent seasons - and it would appear the bill is now very much overdue. The club announced eye-watering losses of £89.7 million for the 2022/23 season this week, figures which came after they were charged for allegedly breaching profit and sustainability rules (PSR).
That made their losses for the past three seasons stand at more than £215m - with regulations stating that top-flight clubs cannot lose more than £105m over a rolling three-year period.
This latest set of accounts included the sales of Wesley Fofana to Chelsea for £70m and James Maddison to Spurs for £40m, with both deals done before the June 30 cut-off point. Further sales are likely to be needed before June 30 this summer if the club are to turn their finances around.
We have seen both Everton and Nottingham Forest deducted points this season for PSR breaches and while the Foxes’ charge comes too late to be heard and potentially acted upon this year, they could find themselves starting the Premier League on negative points in 2024/25.
Should Maresca’s side fail in their quest for promotion, they could also find themselves deducted points to start the Championship season next term. The EFL followed up the Premier League’s charge with a transfer embargo for the Foxes, which saw Leicester react by launching legal proceedings against both the EFL and the Premier League.
The club moved to explain their huge loss from their most recent accounts, blaming a drop in prize money after they fell from an eight-place finish to 18th, a lack of European football and the cost of sacking Brendan Rodgers last year.
So as fans buckle in for a dramatic climax to the Championship season on the pitch, the Foxes also have an almighty battle off the pitch.
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