Manchester United and five other Premier League clubs avoided falling foul of Profit and Sustainability Rules last season and will not face any charges. Premier League clubs discovered their fate over potential PSR charges on Tuesday morning.

The reporting period related to the time between 2021 and 2024, with clubs that recorded losses for the first two years of the reporting cycle being told to submit their accounts for the financial year ending in June 2024 by the end of last year.

Leicester are still at risk as they wait for a decision on their ongoing legal case. The Foxes successfully defended a charge from the Premier League on appeal in September, which related to the three-year period that ended in 2023.

“Issues as to the jurisdiction of the Premier League over Leicester City Football Club in relation to PSR compliance are currently the subject of confidential arbitration proceedings," the Premier League explained in a statement.

“Accordingly, neither the league nor the club will make any further comment at this stage about any aspect of the club’s compliance or otherwise with any of the PSR or related rules, save to say that no complaint has been brought against Leicester by the league for any breach of the PSRs for the period ending Season 2023-24.”

Manchester United, Newcastle, Chelsea, Nottingham Forest, Everton and Leicester would have been keeping a close eye on the Premier League’s decision. And they can now focus on matters on the pitch in the upcoming months.

Premier League clubs could have faced heavy fines and points deductions if they had failed to adhere to the PSR rules.

Last season, Nottingham Forest were docked four points after being deemed to have breached the financial threshold by £34.5million. But they still avoided relegation by six points.

Everton had a 10-point deduction reduced to six on appeal and were then slapped with a further two-point deduction last season. But, incredibly, the Toffees finished 14 points above the relegation zone after winning 13 matches.

Leicester, meanwhile, won an appeal over a points deduction after arguing the Premier League didn’t have the jurisdiction to punish them as they had been relegated to the Championship by the time their accounting period ended in June 2023.

Despite the spending limitations that have come about following the introduction of the PSR rules, Premier League chief executive Richard Masters explained in August: “There is a collective spirit in the Premier League that still exists, absolutely.

“It is a competition, so it is set up for everyone to compete with each other. Clubs compete with each other on the pitch, off the pitch, in sponsorship markets, with investment, all the time.

“Everyone is trying to find an angle, whether it be signing a player, finding a way to be better in the Premier League - and I think that is a great thing. When it comes to rule breaching, I don’t believe in that as you can imagine, and we will deal with that - but I do think there’s a collective spirit.”