Source: REUTERS/Molly Darlington
[Saba Sports News] According to British media reports, the Premier League is taking action to amend certain aspects of its financial rules to ensure compliance with competition law and public law. Reports indicate that the Premier League is under pressure to modify its Related Party Transactions (APT) rules to ensure that its financial regulations comply with competition law and public law. This move comes after a recent arbitration ruling deemed some APT rules illegal and procedurally unfair. The Premier League has convened an emergency shareholders’ meeting with its 20 member clubs next Thursday to discuss related amendments. Regarding the arbitration outcome, Manchester City believes that all APT rules are now invalid, while the Premier League insists that the arbitration tribunal recognized the overall framework of the APT system. The Premier League plans to address legal issues by amending existing rules, but Manchester City has issued a warning about this. In this context, next week’s meeting may once again see divisions among the clubs. In a previous arbitration hearing, Chelsea, Newcastle United, and Everton supported Manchester City, while several clubs including Arsenal, Manchester United, Liverpool, Tottenham Hotspur, Brighton, West Ham United, Brentford, Bournemouth, Wolves, and Fulham supported the Premier League’s position.