EPL side Leicester City announced a pre-tax profit of £16.4M for the year ending May 31, 2016, according to the LONDON TIMES. The club’s turnover increased by more than £24M from the previous financial year, "mainly due to the prize money earned from the club’s unlikely Premier League title win" in '15-16. Leicester finished 14th in '14-15. Increased domestic TV revenue and "an upward swing in attendances at the King Power Stadium also contributed to the rise in revenue." The club's profits dropped around £10M from the previous 12 months "despite the title success, mainly due to increased investments in the first-team squad." The club also upped its charitable donations, including £2M toward the "development of a new Leicester children’s hospital," and invested £3.5M into its "fixed asset infrastructure" (
LONDON TIMES, 3/2). The BBC's Simon Stone reported Leicester City confirmed it is "legally challenging a Football League charge" of breaching Financial Fair Play rules in '14. Leicester City said that it was "confident the FFP charge would be dropped." The Foxes exceeded the permitted £8M loss "when they won the Championship" in the '13-14 season. The club posted a loss of £20.8M but said £13M of it was "allowable" as it included costs "relating to the club's promotion and academy expenditure" (
BBC, 3/2).