The Foxes faced charges of breaking the Premier Leagues Profit and Sustainability Rules (PSR) relating to the 2022-23 financial year, after which they were relegated from the top-flight to the Championship. The Premier League said that the club's accounts showed they had "exceeded the permitted £105 million threshold" for that year and referred the case to an independent Commission.

Leicester appealed against the Commission's right to hear the case, which was dismissed, but their appeal against that ruling has been upheld by an independent Appeal Board, which ruled that the period in question ended after the season finished, so the club were no longer part of the Premier League.

The Commission's written decision notes: "The Commission considers that, in practice, it is impossible to determine the precise point in time at which LCFC allegedly exceeded the cumulative adjusted loss threshold of £105m because the PSR Calculation is determined across a three-year period up to, and including, the end of a club's financial year for the Accounting Reference Period in which the PSR Calculation is made."

The top division said that it is "surprised and disappointed" by the decision to uphold Leicester's appeal and argues the decision will hinder the league's right to hold other offending clubs to account.

"The Premier League is very disappointed with the Appeal Board’s decision, and the limited reasons provided for it," a statement read. "The League remains of the view that the original Commission took the right approach in interpreting the rules in a practical and workable way that gives effect to their intended purpose. In overturning the original Commission’s findings, the Premier League considers the Appeal Board’s decision fails to take into account the purpose of the rules, all relevant parts of the PSRs and the need for effective enforcement of alleged breaches to ensure fairness among all clubs.

"If the Appeal Board is correct, its decision will have created a situation where any club exceeding the PSR threshold could avoid accountability in these specific circumstances. This is clearly not the intention of the rules.

"It is of critical importance that the Premier League is able to enforce its rules consistently to maintain the principle of fairness. The League will now consider what further action it can take to ensure this is the case."

Foxes fans will breathe a sigh of relief after hearing that their battle to avoid relegation from the Premier League will not be made even harder by a points deduction in this case. They have collected just one point from their first three matches of the season and will hope to get their first win when they meet Crystal Palace in their next one.