£3.1m Championship FFP Settlement For Leicester
Leicester City have now agreed to pay the EFL £3.1million to settle the Financial Fair Play dispute from the 2013/14 season.
Having won the Championship that year and secured a return to top flight football, the club had exceeded the £8million loss stipulation in Financial Fair Play rules. We posted a loss of £20.8million for the year, but argued that £13million of that loss was 'allowable' under the rules as it pertained to promotion and academy costs.
Despite raising the dispute, the EFL acknowledged that Leicester 'did not make any deliberate attempt to infringe the rules or to deceive', adding that the issue 'arose out of genuine differences of interpretation of the rules between the parties.
The whole thing left Leicester faced with a fine of up to £12.8million but having legally challenged the decision, proceedings were halted pending the outcome of Queens Park Rangers' own legal challenge and that remains ongoing.
Presumably the decision to settle is to simply move on and draw a line under it.