Leicester will likely have this many points deducted if they lose appeal

​LE2 is no stranger to fairy tales, but the current narrative surrounding Leicester City feels more like a grim cautionary tale of modern football finance and misplaced ambition. As the club stares down the barrel of a dangerous appeal against the six-point deduction, the Blue Army is left wondering how a model of stability became a target for the Premier League's PSR (Profitability and Sustainability Rules) wrath before others.

​LCFC's descent into the red began with a perfect storm intensified by pushing every one of the EPL's vengeful buttons in the process. Heavy investment in an overall underwhelming squad designed to break the 'big six' hegemony, coupled with the staggering wage bill of a European-contending side, met the harsh reality of huge losses in 2022.

Further monetary shortcomings transpired the following year. By the time the Foxes were relegated, the trap was set. Despite a technical victory in late 2024 (where legal titan Nick De Marco successfully argued the Premier League lacked jurisdiction at a specific cutoff) the league finally caught up with them for the 2023-24 period, alleging an eye-watering overspend and late submission.

Unaccountability

​For many City fans, the optics are agonizing. While Leicester face immediate sporting sanctions that have plunged them into a Championship relegation scrap, Manchester City's 115 charges and Chelsea's 'creative' (it was genuinely ingenious yet questionable) amortisation remain largely unpunished in the public eye.

As ITV reporter Dan Salisbury-Jones (@dsj_itv on 'X') recently noted, both the club and the Premier League have now lodged appeals - pulling in opposite directions. League bosses are reportedly 'seeking to have the appeal resolved urgently'.

​The expert view is equally sobering. Stefan Borson (a former Man City financial advisor, @slbsn) highlights the precarious nature of this second look. He suggests that while the King Power-led organisation fight to mitigate the current six-point hit, the PL's counter-appeal carries significant teeth.

Leicester City's financial tightrope: A season and club on the brink

​The question remains: 'what is the worst-case scenario?': should the Appeal Board side with the Premier League's hardline stance on technical reporting breaches, the Foxes could see their current penalty aggravated. We could be looking at another one or even a two-point subtraction - potentially turning a difficult survival mission into an impossible one.

Borson predicted a one-two point docking on Filbert Way should the protest fail; also mentioning a possible fine. While Salisbury-Jones expected one point.