Championship club Leicester City have issued “urgent legal proceedings” against the Premier League and the English Football League (EFL) after being charged with an alleged financial breach.

The Foxes, who sit second in the Championship, were charged by the Premier League on Thursday for an alleged breach of top-flight Profitability and Sustainability Rules (PSR).

Leicester, relegated from the Premier League last season, were also placed under a transfer embargo by the EFL on Friday in relation to its financial rules.

The club said in a statement on Friday: “Leicester City has been compelled today to issue two urgent legal proceedings against the Premier League and the EFL.

“Leicester City will be seeking that each of these proceedings is determined by an appropriate and fully independent legal panel.

“The Club is committed to ensure that any charges against it are properly and proportionately determined, in accordance with the applicable rules, by the right bodies, and at the right time.

Everton, Nottingham Forest charged for breaching Premier League finance rules

“While Leicester City would prefer the proceedings to be in public, so its supporters and the wider world can be informed about the important issues of football governance that will be considered, the relevant rules require that these proceedings are conducted confidentially, and Leicester City will therefore not be able to comment further about them at this stage.

“We reaffirm the Club’s position that we will continue to fight for the right of Leicester City and all clubs to pursue their ambitions, particularly where these have been reasonably and fairly established through sustained sporting achievement.”

The Premier League said the charge related to an alleged breach in the PSR assessment period ending 2022-23.

The EFL embargo is understood to be about a March 1 submission forecasting the club’s financial results for 2023-24.

Previous PSR charges against Everton and Nottingham Forest have resulted in points deductions being imposed on those Premier League clubs this season.

Leicester’s hopes of automatic promotion back to the top tier would take a major hit if they were given a points deduction.

Enzo Maresca’s side are behind first-placed Leeds on goal difference but have a game in hand.

Third-placed Ipswich are just one point adrift of Leicester, with the top two earning automatic promotion to the Premier League.

Leicester’s Premier League charge will not be dealt with under the league’s standard directions process which is designed to ensure cases are dealt with in the same season as charges are laid.

That is because the club had been relegated before the standard directions were adopted at the Premier League’s annual general meeting last June.

The Star