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Leicester announce losses of nearly £100m but still plan to embark on a rebuilding job this summer... with the struggling Foxes likely to allow star player James Maddison to leave the club

Leicester will embark on a summer squad rebuilding job against a backdrop of significant financial constraints after they announced losses of nearly £100million.

The latest set of results, which cover the 12-month period ending May 2022, reveal a pre-tax loss of £92.5m, though they do not include the £75m sale of Wesley Fofana to Chelsea, which was agreed last August.

Yet they still lay bare the difficulty of the situation at Leicester, who are fighting for Premier League survival this season and are preparing for a squad overhaul at the end of the campaign.