Although the amount is particularly high due in part to the Covid epidemic, it is over three times the loss they made the previous year (£31.2m).
Leicester’s owners were ready for the significant deficit after choosing to raise losses and maximize team expenditure.
The loss is nearly three times higher than what they lost the year before (£31.2 million), however it is atypically large given that the majority of the season was played behind closed doors because to the Covid epidemic.
With the August sale of Wesley Fofana to Chelsea for a price exceeding £70 million, which is expected to show up in the books for the upcoming year, Leicester also failed to cash in on a marquee player during that time.
An official statement from the club stated: “Heading into a second straight European campaign for the first time in our history, following consecutive fifth-place finishes in the Premier League (2019/20 and 2020/21) and the lifting of our first FA Cup (2021), the club retained its primary playing assets while making further significant investments in player acquisitions and salaries.”
Leicester’s owners were aware of the significant deficit they would face and therefore made the conscious decision to increase their losses and maximize their squad investment.
