In a cruel blow to Manchester City, Premier League clubs have agreed modifications to the league’s Associated Party Transactions (APT) rules.
Earlier this year, City filed a competition law complaint against the APT guidelines, which determine whether agreements between clubs and companies associated with their ownership reflect fair market value.
A portion of them were ruled illegal by an arbitration panel, which City maintain renders the entire set of rules “void” until the panel offers more direction.
In spite of this, the league’s APT rules were updated by a vote that required support from 14 of the 20 clubs in order to pass. Aston Villa’s high-profile support in the lead-up to the decision gave City faith that they were headed for triumph.
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According to The Mirror, up to 16 clubs are said to be in favor of the amendments. Therefore Villa’s public support of City’s case and demands that the vote be postponed by 90 days have not been sufficient.
A Premier League statement read: “The amendments to the rules address the findings of an Arbitration Tribunal following a legal challenge by Manchester City to the APT system 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.
“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.”
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