Fans have been left angered by the development, with some feeling that the financial regulations are ineffective, while others speculated about what it means for Manchester City and the 115 charges they face.
"Leicester getting away with it again. Why bother. If I was Newcastle and Villa I’d been right pissed off," wrote X user @dazrebo, while @AndyLUFC_ said: "English football is well and truly broken. Rewarding cheating".
"This is disgusting, Leicester City break the rules but cannot be punished," wrote @TheStatsSaint. "Instead Everton and Forest get punished and everyone else is totally kneecapped by P&S. Where is the justice for those who abide, and those punished where others aren't?"
Meanwhile, @howiehok3434 wrote: "Those asking 'what about City?', here is your answer!"
That sentiment was echoed by @Matty_Boyes16, who said: "When Man City inevitably win their case, it’ll make a complete mockery of the Premier League. From a competitive perspective, it’ll be destroyed as clubs won’t have any limits on spending. From a fans perspective, the PL deserve everything they get."
@York_Villa said: "Don't like this one bit, nothing against Leicester but it's not giving any hope against Man City being found guilty in their 115 charges!"
And @MyBlueEmpirex made the poignant point: "Man City going this same route to the BS charges."