As reported by the BBC, The independent commission will assess two alleged breaches by the Foxes; suggesting that they failed to provide accounts to the Premier League by 31 December, 2024, and that they did not "provide full, complete and prompt assistance to the Premier League in response to the league's inquiries".
This comes after the club avoided a points deduction at the start of this season as the Premier League could not punish the Foxes for breaching profit and sustainability rules for the 2022-23 season as the club had been relegated from the top flight at the end of that campaign. This is despite it being a larger PSR breach than either Everton or Nottingham Forest who suffered points deductions last season.
An EFL Spokesperson said: “The EFL notes that the Premier League has today referred Leicester City to an independent Commission for an alleged breach of Profit and Sustainability Rules for the period ending season 2023/24.
“The EFL commenced an investigation into this reporting period following the March 2024 submissions and as is permitted in accordance with EFL Regulations, jurisdiction for that passed to the Premier League at the conclusion of the 2023/24 season on the Club’s promotion.
"We will now await the outcome of the Premier League proceedings and until then are not able to comment any further on the matter.”
Leicester, who have been relegated from the Premier League once again this season also released a statement.
"The club intends to engage co-operatively in this matter now that the Premier League's jurisdiction has been established for the period ending FY24 (financial year 2024).
“However, we will not be able to comment further on these proceedings until they are concluded, due to their confidential nature.”