When Brendan Rodgers spoke of the need for a ‘shake-up’ at Leicester City in February 2022, little did anyone know how dire the financial situation of the club would become just two years later.
Despite concerns among fans back in 2022, the necessary changes never materialized. Now, in April 2024, the club has announced a staggering loss of £89.7m for the 2022/23 season, marking a total loss of £182m over the past two seasons.
Facing repercussions for breaching Profit and Sustainability rules, Leicester City must now raise funds through player sales to avoid further sanctions. The root of their financial woes can be traced back to Rodgers’ call for squad reinvigoration and the subsequent failure to deliver on that promise.
In stark contrast, Brighton & Hove Albion announced a record profit of £122.8m in the same financial year, highlighting the stark difference in management between the two Premier League clubs.
As Leicester City grapples with their financial crisis, questions remain about their future viability. The club’s fall from grace serves as a cautionary tale of the consequences of failing to address underlying issues within a football organization.
