"In February, City contested amendments made to the APT rules by Premier League clubs months earlier. Those changes were forced on the league by an earlier legal challenge by City. Those rules are designed to ensure fair market value is applied to commercial deals with organisations closely aligned to club owners. The rules are intended to prevent deals such as sponsorships from being artificially inflated, which could undermine the league's financial rules."
"City and the Premier League released statements at the same time Monday saying they have "agreed to terminate the proceedings." "This settlement brings an end to the dispute between the parties regarding the APT rules," their statements said. "As part of the settlement, Manchester City accepts that the current APT rules are valid and binding." In a separate legal case, City face more than 100 charges of alleged financial breaches from the Premier League."
Manchester City and the Premier League have reached a settlement over associated party transaction (APT) rules. Under the settlement, City accepts that the current APT rules are valid and binding. In February, City contested amendments made to the APT rules by Premier League clubs months earlier; those changes were forced on the league by an earlier legal challenge by City. APT rules require fair market value for commercial deals with organisations closely aligned to club owners and aim to prevent artificially inflated sponsorships that could undermine the league's financial rules. The parties have agreed to terminate the proceedings. A separate case alleges more than 100 financial breaches against City; no verdict has been reached and City denies the charges.
Read at ESPN.com
Unable to calculate read time
Collection
[
|
...
]