Leicester City will owe the Football League a reduced fine after coming to an agreement with the English lower-league governing body over a dispute regarding the 2013/14 season.
The Foxes, who won the Championship that season and were promoted to the Premier League, were handed an official breach of Financial Fair Play rules after accruing a loss exceeding the allowed $11 million amount. However, Leicester City argued that the deficit was due to “allowable” amounts regarding promotion and academy costs.
After talks between the two parties, the EFL announced Leicester City will owe a reduced amount of $4.33 million. They could have owed up to $18 million, the differential between the allowed amount and their actual posted loss of $20.8 million.
In an official release, the EFL announced, “The EFL acknowledges that [Leicester City] did not make any deliberate attempt to infringe the Rules or to deceive and that the dispute arose out of genuine differences of interpretation of the Rules between the parties.”
After initially receiving word of the notice back in 2014, the Foxes had legally challenged the fine, but that had been put on hold after litigation began in 2015 between the EFL and Queens Park Rangers for a similar dispute. Bournemouth was also fined after incurring a significant loss in their 2014/15 promotion season. Teams that breach rules but are not promoted face transfer bans, such as Fulham, Bolton, and Nottingham Forest received through the 2014/15 season.