Leicester City, an English Championship club, recently reported a pre-tax loss of £89.7 million ($112.73 million) for the 2022-23 season. This financial setback came as the team was relegated from the Premier League. The club's financial challenges have been further compounded by potential breaches in the league's spending rules, leading to a referral to an independent commission by the top flight.
During the 2021-22 season, Leicester had already posted a club-record loss of £92.5 million, with a pre-tax loss of £33.1 million the year before. The club's Chief Executive, Susan Whelan, acknowledged the significant setback faced in the latest season, emphasizing that the consequences will be felt for some time.
