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Leicester pay settlement over Financial Fair Play

Credit: PA

Leicester have agreed to pay a settlement of £3.1million to the English Football League after the club were found to have breached Financial Fair Play (FFP) rules in 2013/14.

The Foxes exceeded the permitted £8million loss in their Championship-winning campaign but vowed to legally challenge the charge after claiming £13million of the £20.8million deficit was "allowable".

In announcing the settlement, the EFL acknowledged that the club did not make a deliberate attempt to infringe the rules and instead had misinterpreted them.

"The agreed settlement of £3,100,000 is in full and final settlement of all and any claims by the EFL against the club and its officers, in respect of the FFP regulations for season 2013/14," the league's statement said.

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