The Foxes Trust welcomes the decision of the Appeal Board regarding the application of the Profit & Sustainability Rules (PSR) to Leicester City.
We note that the judgment clears the Club of being in breach of the rules, and based on this, a points deduction cannot currently be lawfully made in relation our previous seasons in the Premier League.
We hope that supporters can now look forward to a season where our final position for the 2024/25 season will be determined by sporting capability rather than the lottery of a possible points deduction. It is our understanding that the Premier League will carry out a PSR review of all Premier League clubs in December 2024. They will be looking back over the last three seasons ( which will include 2023/24 when we were in the Championship) to determine whether over that period clubs complied with PSR.
For some time, the Trust has sought to find out from the Club why the Premier League considered our financial position to have fallen foul of their PSR rules, and how the Club had managed to get in that position.
The Trust will now encourage the Club to work with the newly formed Fans Advisory Board (FAB) in a positive and open manner, embracing changes needed in accountability to maintain and develop the legacy and heritage of the Leicester City.
As the Government moves towards the establishment of an Independent Regulator for Football, it is also important that the Club is open with the new FAB about the Club’s finances, ensuring they are sustainable, and that the Club shows integrity and commitment to perform within the rules in the future.
Fans have suffered anxiety and concern caused by the club’s relegation, and the uncertainty over PSR, and this was clearly evidenced by the recent Foxes Trust fan survey which shows considerable unhappiness about how the Club is being run. We now hope to see a period of stability and development where the Club and the fans can once again be seen as working as one for the benefit of our football club.