"Manchester City and the Premier League have settled their dispute over rules that limit the ability of top-flight clubs to sign sponsorship deals with companies related to their ownership. The fight over so-called associated party transaction rules had been seen as a potential challenge to the entire Premier League rulebook, but both parties have now stepped back from the brink, with City agreeing to accept the legitimacy of the APT rules as they stand."
"City claimed victory in an initial battle over APT in October, after an arbitration panel found that certain aspects of the rules which then stood were discriminatory. Loans made by shareholders to their own club should have been included within APT rules, the panel adjudged, while there were also problems with the way in which clubs were given information on what might be fair market value in any given deal."
"The Premier League and Manchester City FC have reached a settlement in relation to the arbitration commenced by the club earlier this year concerning the Premier League's associated party transaction (APT) rules, and as a result have agreed to terminate the proceedings, the parties said in a joint statement on Monday afternoon. This settlement brings an end to the dispute between the parties regarding the APT rules. As part of the settlement Manchester City accepts that the current APT rules are valid and binding."
Manchester City and the Premier League settled an arbitration dispute over associated party transaction (APT) rules, agreeing to terminate the proceedings. Manchester City accepts that the current APT rules are valid and binding, and both parties agreed not to make further comment. An earlier arbitration panel in October found parts of the previous rules discriminatory, noting shareholder loans should have been included and problems with information on fair market value. The Premier League adjusted the rules and argued the issues were resolved, but Manchester City initiated a second arbitration which has now been resolved. A separate disciplinary process with over 130 charges remains ongoing.
Read at www.theguardian.com
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