Manchester City Disapproves Premier League Clubs' Approval of Major Rule Change

Premier League clubs have unanimously voted in favor of implementing changes to the league's Associated Party Transactions (APT) rules during a meeting held in Central London. The decision came after an independent tribunal deemed certain aspects of the APT rules unlawful following a lawsuit brought forth by Manchester City. The changes were approved by all 20 teams present at the meeting, with the amendments addressing the Tribunal's findings.Today, at a Premier League Shareholders' meeting, the clubs gave their approval to the adjustments made to the League's Associated Party Transaction (APT) rules. These changes were put into effect following the ruling of an Arbitration Tribunal in response to a legal challenge initiated by Manchester City earlier this year.

"The Premier League has conducted a detailed consultation with clubs - informed by multiple opinions from expert, independent Leading Counsel - to draft rule changes that address amendments required to the system,” read the statement released by the Premier League.

as reported by The Athletic. According to the report, the PL were desperate to bring in the new amendments as soon as possible as it could have resulted in damages from other clubs trying to secure associated party deals during this time.

“This relates to integrating the assessment of Shareholder loans, the removal of some of the amendments made to APT rules earlier this year and changes to the process by which relevant information from the League's 'databank' is shared with a club's advisors.

Listen to the latest songs, only on JioSaavn.com

“The purpose of the APT rules is to ensure clubs are not able to benefit from commercial deals or reductions in costs that are not at Fair Market Value (FMV) by virtue of relationships with Associated Parties. These rules were introduced to provide a robust mechanism to safeguard the financial stability, integrity and competitive balance of the League,” the statement added.

(Except for the headline, this story has not been edited by staff and is published from a syndicated feed.)