De Marco Refutes ‘Loophole’ Claims in Leicester’s Cleared Charges

Nick de Marco holds a prominent position in the ongoing legal discussions within English football. His expertise in the intricate domain of profit and sustainability rules (PSR), also known as Financial Fair Play (FFP), has earned him the moniker ‘The Godfather’ of football finance law from his chambers, Blackstone. Following Leicester’s swift return from the Championship, the club commenced the current season facing the prospect of a substantial points deduction. This situation arose from a Premier League charge issued in March, alleging that they had exceeded the permissible £105m three-year loss limit. De Marco spearheaded Leicester’s defense against the Premier League’s charges. The case was ultimately dismissed in September, with the Premier League asserting that the independent panel’s interpretation “failed to take into account the purpose of the rules”. Numerous observers suggested that the 57-year-old had utilized a regulatory loophole, a contention he disputes. He stated, “That wasn’t a loophole,” adding, “It is a very simple point. The Premier League should never have brought the case in the first place.” This context leads to the recently revised regulations concerning Associated Party Transactions, which were approved by a vote at the Premier League meeting on 22 November, notwithstanding significant opposition from Manchester City and Aston Villa. Prior to the vote, De Marco indicated a degree of sympathy with Manchester City’s argument that expediting new legislation constituted an error. He remarked, “People shouldn’t rush to change rules,” and continued, “I have seen this in the Football League and Premier League a lot.” He further commented on a potential future scenario: “Two or three years down the line, you get the Premier League furious Leicester have won their case, saying it was because of a loophole in the rules. But they were the rules the Premier League wrote.”