Aiyawatt Srivaddhanaprabha has written of the Premier League’s Profit and Sustainability charge against the club in his programme notes for the fixture with Norwich
Leicester City’s financial future is “entirely secure”, chairman Aiyawatt ‘Top’ Srivaddhanaprabha has insisted in a message addressing the charges against the club.
City have been charged by the Premier League over an alleged breach of Profit and Sustainability rules and been placed under a transfer embargo by the EFL. The club responded strongly to both, announcing they would take out legal proceedings against both bodies.
In his programme notes ahead of Monday’s fixture against Norwich, Top has sought to assure supporters concerned by the charges by insisting King Power are still supporting City and that off-field matters do not impact on the financial security of the club. He also reiterated the club’s stance over the charges, that they are seeking to ensure they are “properly and proportionately determined.”
His message read: “Off the field, recent weeks have been challenging for everyone at the club and that includes our supporters, some of whom will be understandably concerned about the PSR charges that have been brought against us. First and foremost, while we navigate this regulatory matter, I want fans to be assured that the club’s financial position is entirely secure and that my personal support for Leicester City, and that of King Power, remains as strong as it has ever been.
“We do not underestimate the significance of recent developments, or the importance of our supporters having a fuller understanding of the position of their club. This needs to be balanced with respect for current confidentialities involved and the need to ensure the club’s position and interests are most strongly represented in the right setting.
“We will always respect our obligations to the rules of the game and governing bodies, whose responsibility it is to enforce them. This includes ensuring that any charges against the club are properly and proportionately determined, in accordance with the applicable rules, by the right bodies, at the right time. Please be assured that we will continue to act, as we always have, in the best interest of the club and its supporters.”
City’s accounts for the 22-23 season are due to be published this week. They will help to clarify the club’s financial situation and PSR predicament, both for the three-year cycle ending last summer and the current three-year cycle.
Copyright © 2024
Leave a Reply