February 22 – Leicester City are paying a price, albeit relatively insubstantial by Premier League standards, for their fairytale title success in 2016 by having to fork out £3.1million to settle a long-running financial fair play dispute.
Leicester were found to have far exceeded the permitted £8 million loss when they won promotion two seasons previously, the launchpad for their subsequent ground-breaking Premier league title.
The club, owned by Thai entrepreneur Vichai Srivaddhanaprabha, were deemed to have breached financial fair play rules when they made a £21 million loss in that 2013-14 season.
Leicester argued that £13 million of the losses was “allowable” since it included expenditure on youth development, a stadium and academy costs. The English Football league admitted the club “did not make any deliberate attempt to infringe the rules or to deceive”.
But it added: “The dispute arose out of genuine differences of interpretation of the rules between the parties.”
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