According to Everton’s former chief Keith Wyness, by returning to the Premier League, Leicester City will provide themselves the best opportunity of overcoming their financial difficulties.
Under Profitability and Sustainability Rules (PSR), the 66-year-old asserted that the Foxes will have a larger buffer if they get promoted.
From 2004 until 2009, Wyness was the CEO at Goodison Park. He currently operates a football consultancy where he provides advice to football clubs.
After reporting a deficit of about £90 million for the 2022–2023 season, Leicester’s losses for the previous three Premier League seasons have now exceeded £215 million.
Top-flight teams are only allowed to lose £105 million over a three-year period under PSR rules; however, this amount decreases with each season spent in the Championship.
Leicester might lose points if they return after being penalised by the Premier League for violating spending regulations.
How Leicester City can avoid financial issues
Wyness stated on the Football Insider podcast’s Insider Track:
“I think they’d prefer to go up and take their chances in the Premier League.
“They’d have a bigger buffer amount in the PSR rules if they were to go up, rather than have that limited by being in the Championship.
“They’d prefer to take their chances up there, I’m sure, and try and fight their way through it.
“That would be the best upside case.
“However, with Ipswich and Leeds also in the race – it’s looking like a really tough battle.”
The former Premier League champions are currently on top of the Championship standings, ahead of Ipswich Town and Leeds United.
Leicester City lead the Championship standings
In 41 games so far, the Foxes have won 88 points, the same as second placed Ipswich who have played one more game.
A number of clubs have been punished for violating the Profit and Sustainability Rules with Everton and Nottingham Forest also getting a point deduction punishment.
Leicester City are currently favourites to go up but they are being chased fiercely by Ipswich and Leeds.