The Foxes are currently 22nd in the Championship, entering the relegation zone after a six-point deduction for a breach of financial rules.
Gary Rowett became the new Leicester City manager this week on a deal until the end of the season and with 14 games to go, his mission is to keep the side afloat in the Championship.
When the points deduction was announced, the club described it as "disproportionate" and now as per the BBC, The Foxes have are appealing against the severity of the punishment, while the Premier League itself is arguing that the sanctions did not go far enough.
In a statement, the Premier League said: “Leicester City Football Club has appealed the decision of an independent commission to impose a six-point deduction on the club, after it found them to be in breach of the EFL Profit and Sustainability Rules.
“The Premier League has lodged its own appeal, limited to the commission’s decision not to impose a sanction on the club for its breach of the League’s rules regarding the late submission of its annual accounts.
“The parties submitted their appeals to the chair of the judicial panel today, who will now appoint an appeal board to hear the case.
“To provide certainty for all clubs and fans, the Premier League will be seeking to have the appeals resolved urgently, and in any event before the end of the EFL season.”
Rowett’s first game in charge is at one of his former clubs, Stoke, on Saturday afternoon as he aims to turn the club around whilst the side wait for news on their appeal.