The 20 Premier League clubs have agreed to hold an emergency meeting on Tuesday to discuss the fallout from the APT trial between Manchester City and England’s top flight.
City challenged the Premier League associated party transaction (APT) Rules in June. These regulations were put in place to ensure that any deal between a club and another company that may have overlapping owners or investors is carried out at “fair market value”. This is a different case to the 115 charges the Premier League has brought against City.
An independent arbitral tribunal concluded the APT case in early October, but both sides presented the result as if they were victorious. These very different points of view will be resolved – theoretically, at least – at an emergency meeting between the 20 Premier League clubs on Tuesday, October 22, it has been reported. The Telegraph.
The Premier League noted that the tribunal “confirmed the need for the APT system as a whole and rejected the majority of Manchester City’s challenges”. Only a “small number of discrete elements” currently do not comply with the law, according to England’s top flight, which “the league and clubs can address quickly and effectively”.
The City Council delivered to scathing answer to the Premier League’s handling of the case, sending a sharp letter to the other 19 clubs in the division. City general counsel Simon Cliff claimed the Premier League’s statement was simply “not correct” and was full of “various inaccuracies”.
Cliff concluded bluntly: “The court has declared the APT rules illegal. MCFC’s position is that this means all APT rules are null and void from 2021” .
the reigning Premier League The champions argued that the entire creation of the APT rules was “rushed” and “ill-thought-out” when they were introduced shortly after Newcastle United took over. City implored other clubs to avoid a “knee-jerk reaction”, warning that such action “could lead to further legal proceedings with further legal costs”.
One of the most important victories city judgment secured revolves around home owner loans. The tribunal agreed with City that interest-free loans from generous shareholders should be included in the new APT rules, potentially complicating a common financial practice employed by numerous clubs in the division.
