The Premier League has not charged any clubs for breaches of its financial rules after all were deemed financially compliant for the 2023-24 season.
Most top-flight clubs had to submit their accounts for the 2023-24 season by 31 December and the Premier League is satisfied that all 20 members have remained within its profit and sustainability (PSR) rules.
Under PSR regulations, clubs cannot post losses of more than £105m over a three-year period.
It had been reported that Leicester City were one of a number of clubs close to breaching the Premier League’s margins for allowed losses.
The Foxes avoided a points deduction after they won an appeal against a charge in September, which covered the three years up until the end of the 2022-23 season.
An independent panel found the Premier League did not have the jurisdiction to punish the Foxes as the club had been relegated to the EFL Championship when their accounting period ended on 30 June 2023.
In a joint statement on Tuesday, Leicester and the Premier League said the matter remains “the subject of confidential arbitration proceedings”.
What is PSR?
The Premier League introduced profit and sustainability rules in the 2015-16 season.
It came after demands to protect clubs from overspending after Portsmouth became the first – and so far only – Premier League club to go into administration.
The rules allow Premier League clubs to post losses of £105m over a three-year reporting cycle.
Spending on academies, infrastructure and community projects are exempt from profit and sustainability submissions.
Who’s been punished in the past?
Everton became the first club to be charged by the Premier League for breaches of its financial rules in 2023.
An independent commission found the Toffees posted losses amounting to £124.5m to 2021-22 and docked the club 10 points, which was later reduced to six points on appeal.
Everton were then sanctioned for a second time in January 2024 alongside Nottingham Forest.
The Toffees received an additional two-point deduction for being £16.6m over the loss limit for the three-year period to 2022-23.
Forest were deducted four points after an independent commission found the club’s losses to 2022-23 breached the threshold of £61m by £34.5m.
For clubs that were not in the Premier League for the duration of the previous three-year cycle – such as Forest who were promoted to the top flight in 2022 – there are separate thresholds.
Which clubs were at risk this time around?
Based on a busy early summer of player trading between a small group of clubs before the 30 June cut-off – as well as football finance experts’ analysis of recent accounts – the clubs closest to PSR limits were understood to be Leicester City, Aston Villa, Newcastle United and Everton.