Leicester charged over alleged financial breaches
The Foxes are accused of breaking Football League financial rules, with the case referred to an independent commission by the Premier League.
Leicester, who will be back in the Championship next term following their relegation from the top-flight this season, could be handed a points deduction if they are found guilty.
A Premier League spokesman said: "Following an Arbitration Tribunal's decision concerning jurisdiction, Leicester City FC has now been referred to an independent Commission for alleged breaches of the EFL Championship Profit and Sustainability Rules for Season 2023/24, and the club's obligation to provide full, complete and prompt assistance to the Premier League in response to the League's enquiries."
The Football League added in a statement: "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."
In their own statement, Leicester responded: "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)."
Earlier this season, Leicester won an appeal that prevented the Premier League from charging them for breaching profit and sustainability rules during their top-flight campaign in 2022-23.
Leicester claimed the Premier League did not have jurisdiction to charge them because they were competing in the Championship at the time of the case.
The Premier League challenged Leicester's successful appeal, but a tribunal ruled in the club's favour.
"The club is pleased that it successfully defended the Premier League's challenge to the Appeal Board decision in relation to the PSR assessment period ending FY23, which was the main focus of these proceedings," Leicester said.
The latest financial accusations are another blow for third-bottom Leicester in a dismal season.
Foxes boss Ruud van Nistelrooy is waiting to discover if he will remain in charge next term or be sacked for failing to save them from relegation.
Leicester have won just six of their 37 league games and finish the season at Bournemouth on Sunday.