Leicester faces drop to third tier after six point penalty

Leicester could plummet to English footballs third division exactly ten years after their remarkable Premier League success following a six point deduction imposed on Thursday for violating financial regulations.

After dropping out of the elite division last term the penalty pushes the Foxes down from seventeenth to twentieth position in the Championship where they cling on just above the relegation places thanks to their goal difference.

A panel ruled that Leicester exceeded the profit and sustainability limits over the three years ending in the 2023/24 campaign during which they secured promotion from the Championship by almost 21 million pounds (29 million dollars).

Across the seasons from 2021/22 through to 2023/24 the team recorded deficits exceeding 200 million pounds.

Leicester issued a statement labelling the penalty as excessive and argued it overlooked key mitigating circumstances they had highlighted.

The club further stated We continue to work collaboratively and insist that all measures must be equitable balanced and resolved via proper channels.

The side has failed to secure victory in their past four Championship outings and lacks a full time head coach since parting ways with Marti Cifuentes last month.

Back in the 2015/16 campaign they claimed the Premier League crown beginning as 50001 long shots.

They lifted the FA Cup for the first time in 2021 yet suffered relegation in 2023.

Under Enzo Maresca they returned to the Premier League immediately but fell back down last season managing only six triumphs in 38 outings.