Manchester City had been involved in a legal challenge against the Premier League’s rules governing associated party transactions
Manchester City have reached a settlement with the Premier League in relation to their dispute over the rules governing associated party transactions (APTs).
City had been involved in a legal challenge against the current rules, which are in place to ensure that deals between clubs and entities linked to their ownership are not above a fair market value.
The two parties, however, have been able to settle the agreement out of court to bring an end to the dispute.
Under the settlement, City accept that the current rules governing APTs are “valid and binding”.
In a statement on Monday afternoon, 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.
“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.”