Both sides claimed victory after the decision of an arbitration panel following City's challenge against the league's associated party transaction (APT) regulations, which seek to ensure sponsorship deals with companies linked to clubs' owners represent fair market value and are not artificially inflated.
City claimed the rules were 'void', and expressed 'concern' over the Premier League's suggestion that new APT rules could be passed swiftly, signalling possible further legal action if there was a 'knee-jerk reaction'.
Following meetings of its Legal Advisory Group and Financial Controls Advisory Group, the Premier League has now written to all 20 of its clubs proposing a number of amendments before they meet on 22 November.
One suggested amendment relates to the definition of 'fair market value', which is described in the current APT rules as 'the amount for which an asset, right or other subject matter of the transaction would be sold... between knowledgeable, willing parties... in normal market conditions'.
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