The charges, originally laid down by the Premier League, relate to the three years up to the 2023/24 season and the club's recorded losses in that time.

Under PSR (Profit & Sustainability Rules) clubs are only allowed to lose a certain amount of money over a three year period, which Leicester have been found to have breached.

They were relegated from the Premier League last season and with the deduction now find themselves outside the relegation zone only by virtue of a superior goal difference to West Brom and Blackburn Rovers.

Last month they sacked manager Marti Cifuentes and their financial situation has meant they have struggled to bring in new players both in January and the previous summer, whilst still having a significantly higher wage budget than any other Championship club.

Their next game will be on Saturday against Birmingham City.