LEICESTER CITY have announced massive losses of £71.1m as they stare the possibility of relegation to League One in the face.
Despite the significant losses, the Foxes are confident of avoiding further sanctions for financial breaches.
Leicester have lost 16 of their 39 games this season and sit in the relegation zoneCredit: Getty
But despite the financial woes, the club insist they are compliant with regulationsCredit: Getty
The club was last month and that leaves them inside the Championship relegation zone with just seven games to play.
The League imposed the deduction for Leicester breaching financial regulations, but their appeal is expected to be heard in the next few weeks.
Despite the worrying figures, the club is confident of avoiding further punishment and insists they are compliant with Profitability and Sustainability Rules (P&S).
The released accounts do not include the sales of (£15m to West Ham), Kasey McAteer (£12m to Ipswich) and (£8m to Leeds) as they were completed after June 30 2025.
Leicester are also guaranteed to rake in £18.6m from VfB Stuttgart for the permanent signing of , who joined on an initial loan last year.
Whatever happens at the end of the season, Leicester intend to stick to their open strategy of selling their top star and rebuilding the rest of the squad.
Ghana international Abdul Fatawu is expected to garner the most interest with promotion chasing rivals and Premier League sides already credited with an interest in the 22-year-old.
Leicester insist that improving their financial position is “a priority” and have appointed Kevin Davies, the club’s former finance director, as their new chief executive to tackle the issue head on.
The Foxes won the Premier League 10 years ago in one of the most remarkable feats ever seen in the sport.
Winning from a 5000-1 shot, a team led by , and became the most unlikely champions and played football the following season.
Now they’re fighting for their lives in the second tier and most fans have to accept it’s going to get worse before it gets better.
But with boss , the club have stopped leaking as many goals and are in a direct fight with Oxford, , and Blackburn to see who joins Sheffield Wednesday in next season.
Eze Chidiebere Paul
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