With two of this last summer’s sales included in the accounts for next year, Leicester City could see an increase in their earnings.
Despite generating a profit of £74.8 million from player sales, City revealed that they lost £89.7 million in 2022–2023.
The two summer departures of James Maddison to Tottenham and Wesley Fofana to Chelsea resulted in the two largest payments.
Leicester City have been punished by the Premier League
The Premier League has charged Leicester City of breaking the Profit and Sustainability rules.
According to reports, Leicester will have to sell players in the summer even if they get promoted to the Premier League in order to stay in compliance with regulations for the final stretch of the current campaign.
But, they will see two revenue increases in their accounts for the next year, according to Leicestershire Live.
The 2023–2024 accounting period will feature Timothy Castagne’s and Harvey Barnes’ sales.
This will help the former Premier League champions to ease the difficulty in balancing their books and get in line with the financial rules.
Barnes, an academy graduate who will be recorded as pure profit in the books, signed a contract with Newcastle United for an estimated £38 million. As for Castagne, Fulham paid £15 million sign him.
Leicester City have lost players due to their decline
Ayoze Perez, Jonny Evans, and Youri Tielemans are among the players that departed the team on a free transfer.
While some players’ contracts included relegation clauses, this implies that the cost of wages during the accounting period will decrease.
Leicester, one of the greatest sporting surprises of the 2015–16 season, went from champions to relegation in seven seasons due to a continuous slide that included significant losses in recent years.