The Premier League has released a statement with Newcastle United and all other top-flight clubs avoiding charges over breaching PSR.
All clubs had to submit their 2023/24 accounts before the December 31 deadline and no breach of the league’s financial rules is adjudged to have taken place. Leicester City were seen as most likely to be punished, but no charges will be brought against the Foxes.
The East Midlands club are still involved in a legal dispute with the league over its jurisdiction over the 2022/23 season. The dispute has to reach a conclusion before any new charges can be brought, with Leicester winning the initial case in September before the league appealed.
And a statement has now been released by the Premier League confirming this and that no further comment will be made over Leicester’s compliance with PSR.
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“Issues as to the jurisdiction of the Premier League over Leicester City Football Club in relation to PSR compliance are currently the subject of confidential arbitration proceedings,” a statement read.
“Accordingly, neither the league nor the club will make any further comment at this stage about any aspect of the club’s compliance or otherwise with any of the PSR or related rules, save to say that no complaint has been brought against Leicester by the league for any breach of the PSRs for the period ending Season 2023-24.”
Newcastle were forced to sell Elliot Anderson and Yankuba Minteh to Nottingham Forest and Brighton & Hove Albion in the summer to avoid a potential PSR breach. Last season Forest and Everton suffered points deductions in the Premier League after breaches.
The Chronicle understands Newcastle were not expecting to be punished despite posting combined losses totalling £121m for the 2021/22 and 2022/23 years. A small profit is expected for the 2023/24 financial period after the club increased revenue streams through additional sponsorship deals, broadcasting income and lucrative European football.
When asked if Newcastle were on the list of clubs who could be punished, Magpies boss Eddie Howe, speaking at his morning press conference, said: “No, I don’t believe we are [on that list].
“The breaching of financial fair play for us was something that we fought really hard against in the summer to not be in that position – and that’s why the departures of the ones we didn’t want to happen had to happen.”
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View news Source: https://www.chroniclelive.co.uk/sport/football/football-news/premier-league-release-statement-newcastle-30777151
