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The Premier League is gearing up to shake up its financial rules after a big tribunal ruling that found some of its Associated Party Transaction (APT) regulations were unlawful and a bit dodgy. This all kicked off thanks to Manchester City, who argued that the APT rules didn’t properly consider shareholder loans, making them a bit of a legal mess.
The tribunal, made up of three retired judges, backed City, saying the APT framework was off because it didn’t include loans from shareholders—a major oversight in today’s complicated football ownership scene. Now, the Premier League is in a bit of a rush to sort this out, calling an emergency shareholders’ meeting for next Thursday to chat about changes that’ll get the APT rules back on track.
The APT rules, rolled out in 2021, were meant to stop clubs from puffing up their revenues with dodgy deals linked to their owners. But City, along with Chelsea, Newcastle, and Everton, argued that leaving out shareholder loans was unfair. These clubs also pushed back against tightening the APT rules back in February.
In its lengthy report, the tribunal noted that while the APT system’s goals were solid, the current setup didn’t quite cut it legally. So, clubs have been asked to hand over detailed records of shareholder loans to help with the rule tweaks. The Premier League is set to unveil its updated framework at next week’s meeting.
Manchester City believes the tribunal’s findings wipe out the APT rules entirely, while the Premier League thinks a few tweaks will do the trick. The divide among clubs is likely to rear its head again at the meeting, with City likely backed by Chelsea, Newcastle, and Everton, while Arsenal, Manchester United, Liverpool, and Tottenham have usually sided with the Premier League.
On top of that, Manchester City is still tangled up in a separate legal battle, facing 115 charges for breaching the Premier League’s financial rules. That hearing is ongoing at the International Dispute Resolution Centre in St Paul’s, London, and could shake things up for the club and the financial rules in English football.
Next week’s emergency meeting is going to be one to watch, as it could change the Premier League’s financial game and set the tone for how clubs handle their commercial ties with shareholders and related businesses.
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