Leicestershire

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On Leicester City's referral to an independent commission after being charged with an alleged breach of the EFL's financial rules, football finance expert Kieran Maguire said: "It does look as if the Premier League will now pursue a commission for an alleged PSR breach for the three years ended 30 June 2024.

"The EFL could, separately, pursue a similar case against Leicester for the three years ended 30 June 2025 should Leicester's financial results end up exceeding the EFL PSR limit, which will be £83m over that period.

"Leicester and Bournemouth have previously been found guilty of breaches of EFL PSR rules after they were promoted to the Premier League, and in both cases were given fines.

"Had Leicester accepted a points deduction at the start of the season in relation to historic breaches it would not have made much difference to their relegation battle, although they would have potentially finished 19th instead of 18th and received £3m less prize money from the Premier League.

"While the Premier League and EFL are in dispute over financial distribution, their willingness to co-operate more in terms of the rules and regulations relating to promoted and relegated clubs will make it more difficult for Leicester to avoid charges by either organisation."

Nick Mashiter
BBC Sport football news reporter

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There are various reasons why Leicester have lost so much money in previous years, which still leaves them vulnerable now given the three-year assessment period.

They lost nearly £90m in 2022-23 as the club fell from eighth to 18th, resulting in relegation, but it was also a reduction of about £30-35m in prize money given finishing positions in the Premier League table are worth about £3m.

They budgeted for a higher finish, budgets which chief executive Susan Whelan said were "entirely reasonable" given previous top-five finishes.

A lack of European football was another factor, with the club qualifying for the Europa League and going on to reach the Europa Conference League semi-final in 2022.

Significant changes in the management have also been costly with the departure of Brendan Rodgers, along with his backroom staff, in 2023 expensive.

Leicester have handed out big contracts to players and have therefore been unable to move some on and, despite managing to make a £74.8m profit in player sales in 2022-23, they still lost a huge amount.

The knock-on effect is still restricting them, with current manager Ruud van Nistelrooy only able to spend around £3m on defender Woyo Coulibaly in January, leaving the Foxes short on the quality needed for a relegation fight.

Mandeep Sanghera
BBC Sport journalist

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Leicester won an appeal in September 2024 against an alleged breach of Premier League PSR rules for the 2022-23 season.

An independent panel found the Premier League did not have the jurisdiction to punish the Foxes as the club had been relegated to the Championship when their accounting period ended on 30 June 2023.

The Premier League said at the time it was "surprised and disappointed" by the panel's decision, while Leicester said the club had "simply sought to ensure that the rules are applied based on how they are actually written".

The Premier League then tightened its rules, external, external in April so that clubs were still bound by its rules even if they were relegated.

"The alleged breach relates to the assessment period concluding at the end of the 2023/24 season, when the club was a member of the EFL Championship," said a Premier League statement on Tuesday.

"The tribunal confirmed that the Premier League has the power to investigate an alleged breach of the P&S Rules [PSR] because the EFL validly transferred responsibility for its investigation to the Premier League in June 2024, when the club was promoted from the Championship.

"The Premier League continues to have jurisdiction even though Leicester City will be relegated to the Championship at the end of this season."

Monday Night Club pundit Rory Smith believes a move to newly-promoted Leeds United would make sense for Jamie Vardy.

Vardy, who will leave Leicester City at the end of the season, told Sky Sports he has no intention of retiring and believes he can continue to deliver in the Premier League.

Speaking on who Vardy might be suitable for on BBC Radio 5 Live, Smith said: "I think he actually makes a lot of sense for Leeds if he can overcome his inherent Sheffield Wednesday fan status.

"The experience, there aren't that many proven goal scorers available. Leeds have plenty of goals in the team but they don't have a focal point.

"There's questions about whether Joel Piroe can make the step up. I think there's a logic to Leeds."

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Former Leicester City winger Matt Piper has admitted he will sorely miss commentating on Jamie Vardy.

The forward made his last appearance for the club against Ipswich Town and scored his 200th goal in a 2-0 win. Earlier this season, Vardy announced that he would be leaving the club at the end of the campaign.

"It's felt like a brilliant day," Piper told BBC Radio Leicester. "I know we have been relegated this season, and it has been a desperately poor season.

"But the GOAT - Jamie Vardy - getting to 200 goals in the way and the manner he did it, the player he has been for this club, you have to forget about the relegation for just a day and think about Jamie Vardy.

"The incredible player he has been for this football club for the past 13 years - 500 appearances, 200 goals, Premier League, an FA Cup, Community Shield, going deep into the Champions League. He's been a colossal player over the years, the greatest to ever do it in a Leicester T-shirt and he will be missed.

"He will certainly be missed by me - said it many times, he's been my favourite player to commentate on over the years. As we sort of head into an era where not that many characters are left in top-flight football, he's definitely one of them.

"I am going to miss sitting behind him in a stadium like the Emirates, nails a Red Bull can in 10 seconds and goes on to win the game."

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Tom Gayle
BBC Match of the Day commentator at King Power Stadium

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Jamie Vardy's 'Last Dance' for Leicester City was planned meticulously.

From the flags bearing his name provided for the home fans, the "Goodbye to the Goat" messaging which was emblazoned across the matchday programme, as well as the stadium big screen, to all the VIPs in attendance, which included the manager who signed him, Nigel Pearson, a number of his former team-mates, plus Vardy's family and friends.

Having received an abundance of additional information on email and WhatsApp prior to kick-off, I can't have been the only one thinking this will be proper awkward if he doesn't score!

This shaped my questioning to Ruud van Nistelrooy pre-match when I asked if there was any danger of sentiment getting in the way of his players decision-making when attacking. His robust response clearly indicated this had been a discussion point during the week, but Van Nistelrooy was clear in explaining how it was Vardy himself who led the dialogue of their focus being on the team rather than any individual, and winning was the most important objective.

His 200th club goal, which is set to be replayed for years to come, was classic Jamie Vardy.

As soon as the counter was on, he held the high line to force the Ipswich defence into retreat, which created room for James Justin to drive into. Vardy then made the run to find just enough space so when the ball did arrive at his feet, he was able to deliver the type of 18-yard box finish which has become so synonymous throughout his goalscoring career. Topped off with a customary celebration in front of the away supporters, it was a full house when it comes to a Jamie Vardy goal bingo checklist.

It was a surprise to all media in attendance to discover Vardy's only post-match interview would be conducted by the club, as the squad carried out their lap of appreciation. However, in addition to his goals, given his time at Leicester was largely fuelled by homemade Skittles and vodka, and cutting on and off the field banter, which even his own team-mates and their 'Danish friends' couldn't escape, I respect how he was determined to go out on his own terms.

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We asked for your views on Leicester's Premier League match against Ipswich.

Here are some of your comments:

Jon: So wonderful that Jamie scored in his final game for Leicester. What a magnificent career; a fairytale of epic proportions. A true 'Roy of the Rovers' of the 21st century! We will all miss you so much. Thank you for 13 wonderful years.

David: Written in the stars to finish their season this way. If Ipswich had a Vardy they would have won. Leicester have been very poor on the eyes most of the season, but I cannot complain about their recent achievements which we all never thought would happen.

Steve: If only Leicester had played like this earlier in the season! Vardy deserved his swansong and there can be no better servant for a football club. Jeremy Monga looked impressive for the short time he was on and I'm so glad that Kasey McAteer got his first Premier League goal.

Dave: Well done Vards, difficult season but you have done us well.