Leicester City have appealed against a decision to deduct them six points for breaching English Football League financial rules.
The sanction was imposed on the Foxes earlier this month and saw them drop to 20th in the Championship, only outside the relegation zone on goal difference.
Two successive defeats since have led to them dropping into the bottom three, two points from safety.
Leicester were charged by the Premier League in May for breaching profit and sustainability rules (PSR) in the three years up to 2023-24.
The Premier League said that they will be "seeking to have the appeal resolved urgently" and before the end of this season.
This process will include a ruling on the Premier League's own appeal against the independent commission's decision not to sanction Leicester for late submission of the club's annual accounts.
Both parties have submitted their appeals to the chair of the judicial panel, who will now appoint an appeal board to hear the case.
Deduction 'disproportionate'
Leicester, who appointed Gary Rowett as their new head coach on Wednesday, have yet to comment on their appeal.
But when the points deduction was announced, the club described it as "disproportionate".
"While the commission's findings significantly reduced the unprecedented scale of the sanction originally sought by the Premier League, the recommendation remains disproportionate and does not adequately reflect the mitigating factors presented, the importance of which cannot be overstated given the potential impact on our sporting ambitions this season," the statement said.
Under PSR, Premier League clubs cannot lose more than £105m over three years but the figure is reduced by £22m for every season a club spends outside the top flight.
Leicester's accounts for the period ending 30 June, 2024, showed a loss of £19.4m.
In their 2022-23 accounts, Leicester confirmed an £89.7m loss, while in the 12 months up to May 2022, they lost a club-record £92.5m.
Those figures do not take into account 'add backs' - costs such as building infrastructure and investing in women's football that the Premier League and EFL view as in general interests of clubs.
Despite being charged by the Premier League, the EFL took on the case following their relegation to the second tier.
Although the Premier League had jurisdiction, the Foxes have been sanctioned under EFL PSR rules.
Leicester had argued their case should have been considered over a 36-month period rather than 37 months, caused by a delay in submitting their accounts for 2023-24.
The commission ruled that it should be 36 months meaning the club's overspend of the EFL's rules during that period was £20.8m above the £83m limit.
Although a maximum 12-point penalty could have been imposed, the committee worked down based on Leicester's percentage overspend and settled on six in light of the club's "improving financial position" over the assessment period.