Manchester City had challenged the Premier League's Associated Party Transaction (APT) rules earlier this year and the case was due to go to court next month
A general view of a Manchester City corner flag
A general view of a Manchester City corner flag(Image: Carl Recine/Getty Images)
Manchester City and the Premier League have reached an out-of-court settlement before an October tribunal concerning Associated Party Transaction (APT) regulations.
City had contested the regulations earlier this year and the matter was scheduled for court proceedings next month.
However, this will no longer proceed following the agreement of a settlement, reports the Mirror.
The decision is unconnected to the 115 charges the Premier League has levelled against City for alleged financial misconduct.
In a statement, City said: "The Premier League and Manchester City FC have reached a settlement in relation to the arbitration commenced by the club earlier this year concerning the Premier League's Associated Party Transaction (APT) Rules and as a result the parties have agreed to terminate the proceedings.
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"This settlement brings an end to the dispute between the parties regarding the APT Rules. As part of the settlement, Manchester City accepts that the current APT Rules are valid and binding.
"It has been agreed that neither the Premier League nor the club will be making any further comment about the matter."
Newcastle, Manchester City, Aston Villa and Nottingham Forest all opposed amendments to the league's Associated Party Transaction (APT) rules, which were first introduced following the Magpies takeover in 2021.
Former United CEO Darren Eales explained the club's stance earlier this year, saying. "It's very fluid at the moment. So, from that perspective, I think we're going to have to see over the next couple of months how things play out, but it's obviously something that we're watching carefully."
However, City's agreement that the rules are 'valid and binding' could be a death knell to other clubs looking to change the system in the future.