Leicester will take legal action against the Premier League and EFL after being placed under a transfer embargo.
The Foxes have been charged by the Premier League for allegedly breaching spending rules over the last three seasons.
2
This has culminated in a profit and sustainability breach for the 2022/23 campaign.
Now in the Championship, Leicester were competing in the top-flight last term before suffering relegation on the final game of the season.
As a result, they could suffer a points deduction next term if they secure an instant return back to the Premier League.
With Leicester, who sit top of the Championship, also facing an investigation from the EFL, the club came out fighting in a statement released on their club website.
READ MORE ON PREMIER LEAGUE
A Leicester statement read: "LCFC has been compelled today to issue two urgent legal proceedings against the Premier League and the EFL.
"LCFC will be seeking that each of these proceedings is determined by an appropriate and fully independent legal panel.
"The club is committed to ensure that any charges against it are properly and proportionately determined, in accordance with the applicable rules, by the right bodies, and at the right time.
"While LCFC would prefer the proceedings to be in public, so its supporters and the wider world can be informed about the important issues of football governance that will be considered, the relevant rules require that these proceedings are conducted confidentially, and LCFC will therefore not be able to comment further about them at this stage.
Most read in EFL
2
"We reaffirm the club’s position that we will continue to fight for the right of Leicester City and all clubs to pursue their ambitions, particularly where these have been reasonably and fairly established through sustained sporting achievement.
"The club further notes that at 4pm today the EFL issued a public notification that LCFC has been placed under a registration embargo pursuant to its P&S rules.
Financial Expert Stefan Borson reacts to Nottingham's points deduction & argues why it's not comparable to Everton
"The EFL is aware that LCFC has disputed the EFL’s entitlement to impose this constraint, which is both restrictive and premature, with more than a quarter of the Club’s 2023/24 reporting period remaining."
An EFL Spokesperson said: "The EFL notes today’s statement by Leicester City, issued shortly after the Club’s registration embargo under Profitability and Sustainability Rule 2.10.1 was made public in accordance with EFL Regulations.
"The League will not be making any comment on the proceedings issued by the Club.”