Premier League clubs rebel against Man City and agree new financial rules in huge win for Richard Masters

PREMIER LEAGUE clubs person voted successful favour of caller fiscal rules - successful a immense triumph for embattled main exec Richard Masters.

Manchester City had led the complaint against the tweaks to the Associated Party Transaction rules.

City had warned the different 19 top-flight clubs that the changes - backed by an autarkic KC - remained unlawful.

But astatine this morning's gathering of the shareholder clubs astatine a cardinal London hotel, the measures were passed by 16 votes to four.

League bosses propelled the substance to the apical of the docket successful a motion of their confidence.

And successful a astonishment twist, Chelsea, who had been thought to beryllium successful City’s corner, backed Masters and spoke up - alongside Manchester United - successful enactment of the “need for rules”.

It is understood that Aston Villa, Newcastle and Nottingham Forest joined City successful voting “no”.

But the standard of the enactment for the Prem board, which importantly exceeded expectations, is simply a immense triumph for Masters.

League chiefs tabled the caller regulations aft an Arbitration Tribunal of 3 elder erstwhile judges recovered aspects of the rules, introduced successful February contempt fierce absorption led by City, were “unlawful”.

Senior commercialized adept Daniel Jowell KC advised the revised rules met the demands of the Arbitration Panel and commercialized law.

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In a statement, a Prem spokesperson said: “At a Premier League Shareholders’ gathering today, clubs approved changes to the League’s Associated Party Transaction (APT) rules.

“The amendments to the rules code the findings of an Arbitration Tribunal pursuing a ineligible situation by Manchester City to the APT strategy earlier this year. 

“The Premier League has conducted a elaborate consultation with clubs - informed by aggregate opinions from expert, autarkic Leading Counsel - to draught regularisation changes that code amendments required to the system. 

“This relates to integrating the appraisal of Shareholder loans, the removal of immoderate of the amendments made to APT rules earlier this twelvemonth and changes to the process by which applicable accusation from the League’s ‘databank’ is shared with a club’s advisors.”

The spokesperson added: “The intent of the APT rules is to guarantee clubs are not capable to payment from commercialized deals oregon reductions successful costs that are not astatine Fair Market Value (FMV) by virtuousness of relationships with Associated Parties.

“These rules were introduced to supply a robust mechanics to safeguard the fiscal stability, integrity and competitory equilibrium of the League.”