Here we go again, Leicester City..

[A Quiet Monkfish]

https://www.theguardian.com/football...h-of-psr-rules

How on earth can they have lost nearly £100m in one year. However much money is ploughed into top flight football it all end up on even more ridiculous wages and ludicrous transfer fees.

[JumpersforGoalposts]

They have been "overspending" for years but keeping FFP issues at bay by selling some of their better players.
To illustrate, their accounts show:
Gross Loss 2019 57m, 2020 99m, 2021 51m, 2022 61m
Profit on players registrations 2019 58m. 2020 63m, 2021 44m, 2022 9m
Total losses 2019 17m, 2020 60m, 2021 31m, 2022 92m

2023 accounts are "late", I suspect they are pretty bad and causing a panic at the club!

The accounts are here:
https://resources.lcfc.com/leicester...ub-Limited.pdf
https://resources.lcfc.com/leicester...ults-21-22.pdf

[light up the darkness]

You can massage the accounts to show the messages you want others to see. What you can’t do is to continue to do so year after year.

Some of the ways in which clubs have attempted to smokescreen their financial situation have been remarkably innovative but at the end of the accounting period the numbers don’t lie.

My guess is that Leicester have decided to open up their finances and lump all of their skeletons into one admission. This way they take a big points deduction once and can then start a new three year plan.

If the EFL swallow it good luck but times have changed since UEFA switched their tactics

[JumpersforGoalposts]

You can massage the accounts to show the messages you want others to see. What you can’t do is to continue to do so year after year.

Some of the ways in which clubs have attempted to smokescreen their financial situation have been remarkably innovative but at the end of the accounting period the numbers don’t lie.

My guess is that Leicester have decided to open up their finances and lump all of their skeletons into one admission. This way they take a big points deduction once and can then start a new three year plan.

If the EFL swallow it good luck but times have changed since UEFA switched their tactics

An interesting proposition but not one that works as to "lump all of their skeletons into one admission" then impacts their FFP position for three years.
The whole point of the three year cycle is to prevent such a scenario and put the onus on clubs to adjust for overspending in the next reporting period such that they come quickly within the agreed limits.