Leicester, who appointed Gary Rowett as their new head coach on Wednesday, have yet to comment on their appeal.
But when the points deduction was announced, the club described it as “disproportionate”.
“While the commission’s findings significantly reduced the unprecedented scale of the sanction originally sought by the Premier League, the recommendation remains disproportionate and does not adequately reflect the mitigating factors presented, the importance of which cannot be overstated given the potential impact on our sporting ambitions this season,” the statement said.
Under PSR, Premier League clubs cannot lose more than £105m over three years but the figure is reduced by £22m for every season a club spends outside the top flight.
Leicester’s accounts for the period ending 30 June, 2024, showed a loss of £19.4m.
In their 2022-23 accounts, Leicester confirmed an £89.7m loss, while in the 12 months up to May 2022, they lost a club-record £92.5m.
Those figures do not take into account ‘add backs’ – costs such as building infrastructure and investing in women’s football that the Premier League and EFL view as in general interests of clubs.
