The Mancunian team failed to postpone the vote on Associated Party Operations. Only three clubs agreed with the institution led by Emirati Khaldoon Al Mubarak.
He Manchester City suffered a major blow off the field of play. As the twelfth day of the Premier League approached, the shareholders’ meeting of the English First Division took place. The summit in London allowed voting on associated party transactions, known as the APT rules. Here, the Mancunian players and Aston Villa hoped that the vote would be postponed. The final idea of the team led by Emirati Khaldoon Al Mubarak is to end the APT, believing that these regulations go against legality. Without going any further, citizens denounced competition.
The English league promoted APTs in 2021 to prevent Newcastle United from receiving sponsorship money from their owner’s country. Currently, a third of City’s promotional offers come from the United Arab Emirates.
However, the battle took a turn they did not expect. First, they failed to postpone the elections. Then, when it was made, of the 20 teams that make up the highest British competition, only four voted against the changes proposed by the PL board of directors. These included Manchester City themselves and their “intellectual partner” Aston Villa, as well as Nottingham Forest and Newcastle United. To approve the amendments, the Premier League needed at least 14 votes and managed to add 16.
“Clubs have approved changes to the League’s Associated Party Transactions (APT) rules. The rule changes respond to the findings of an arbitration tribunal following a legal challenge to the APT system by Manchester City earlier this year. announced the Premier League through an official press release.
In this way, elements of the existing APTs will be modified. Shareholder loans will be subject to fair market value tests and a “benchmark” commercial transaction database will be made available to clubs at an earlier stage in the review process.
“The aim of the APT rules is to ensure that clubs cannot benefit from commercial agreements or cost reductions that do not comply with fair market value (MMV) due to their relationships with associated parties. These rules have been introduced to provide a robust mechanism to safeguard the financial stability, integrity and competitive balance of the League,” they state in the Prime Minister. The changes must be approved by the FA, but clubs have already approved their plans. “Appropriate parity must be ensured between the treatment of shareholder loans and other APTs in the future, with transitional rules that clarify the treatment of existing shareholder loans in this framework,” they reinforce.
Hours after the vote, the Premier League informed clubs that overall revenue from the competition would increase by 17 percent. Total broadcast and advertising revenues of £10.5 billion in the current three-year cycle will rise to £12.25 billion for the period 2025-2028.
Source: Latercera
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