City launch legal action against the Premier League | City win APT case (pg901)

[billblu]

can somebody answer me this question. If intrest on loans end up being backdated does this mean the likes of everton could get more points deducations for failing psr by even more ?

 

[johnny crossan]

This claimed “victory” for the PL was enabled by the IC not yet providing its further guidance which has been “imminent” for a little while. This allowed the PL to craft the revised rules, and by offering relief to certain clubs exposed on shareholder loans, to swing the vote.
Could the IC be delaying its ruling to aid the PL or is this just coincidence ?

The Tribunal are in this deal up to their hairy armpits ;-)

 

[Lord Blue]

the full wording - https://www.premierleague.com/news/4172030

At a Premier League Shareholders’ meeting today, clubs approved changes to the League’s Associated Party Transaction (APT) rules​

At a Premier League Shareholders’ meeting today, clubs approved changes to the League’s Associated Party Transaction (APT) rules.

The amendments to the rules address the findings of an Arbitration Tribunal following a legal challenge by Manchester City to the APT system earlier this year.  

The Premier League has conducted a detailed consultation with clubs - informed by multiple opinions from expert, independent Leading Counsel - to draft rule changes that address amendments required to the system.

This relates to integrating the assessment of Shareholder loans, the removal of some of the amendments made to APT rules earlier this year, and changes to the process by which relevant information from the League’s "databank" is shared with a club’s advisors.

The purpose of the APT rules is to ensure clubs are not able to benefit from commercial deals or reductions in costs that are not at Fair Market Value (FMV) by virtue of relationships with Associated Parties. These rules were introduced to provide a robust mechanism to safeguard the financial stability, integrity and competitive balance of the League.

Shareholder Loans​

- The new rules seek to ensure that there is appropriate parity between the treatment of shareholder loans and other APTs going forward, with transitional rules clarifying the treatment of existing shareholder loans within that framework.
- Shareholder loans entered into after 22 November 2024 will be required to be submitted as an APT and subject to an FMV assessment. If the Premier League Board determines the loan to evidently not be at FMV, the club in question shall be required to terminate or vary the loan to reflect FMV and pay any identified shortfall in interest.
- Any Shareholder loan that was entered into before 22 November 2024 and which is replaced with other forms of financing (e.g. by way of conversion to equity or repayment) within 50 days (i.e. by 11 January 2025) will not be required to be submitted as an APT or assessed for FMV.
- Any Shareholder loan that was entered into after 14 December 2021 but before 22 November 2024 and remaining in effect on 11 January 2025 must be submitted as an APT. If the Premier League Board determines the loan is evidently not at FMV,  the club is permitted to retain the Shareholder loan on its existing terms, though adjustments must be made to its Annual Accounts for 2024/25 onwards as if, from 22 November 2024, the loan was at FMV.
- Any Shareholder loan that was entered into prior to 14 December 2021 and remaining in effect on 11 January 2025 must be submitted as an APT and be subject to an FMV Assessment upon any drawdown taking place after the 22 November 2024. If the Premier League Board determines the loan is evidently not at FMV,  the club is permitted to retain the Shareholder loan on its existing terms, though adjustments must be made to its Annual Accounts for 2024/25 onwards as if any drawdowns made after 22 November 2024 were at FMV.

 

[Gone for a Burton]

I'd hardly call it a defeat if City go on to successfully challenge them again. Fucking stupid slap-headed ****!

The clue is in the name !!

 

[Kirkstall Blue]

the full wording - https://www.premierleague.com/news/4172030

At a Premier League Shareholders’ meeting today, clubs approved changes to the League’s Associated Party Transaction (APT) rules​

At a Premier League Shareholders’ meeting today, clubs approved changes to the League’s Associated Party Transaction (APT) rules.

The amendments to the rules address the findings of an Arbitration Tribunal following a legal challenge by Manchester City to the APT system earlier this year.  

The Premier League has conducted a detailed consultation with clubs - informed by multiple opinions from expert, independent Leading Counsel - to draft rule changes that address amendments required to the system.

This relates to integrating the assessment of Shareholder loans, the removal of some of the amendments made to APT rules earlier this year, and changes to the process by which relevant information from the League’s "databank" is shared with a club’s advisors.

The purpose of the APT rules is to ensure clubs are not able to benefit from commercial deals or reductions in costs that are not at Fair Market Value (FMV) by virtue of relationships with Associated Parties. These rules were introduced to provide a robust mechanism to safeguard the financial stability, integrity and competitive balance of the League.

Shareholder Loans​

- The new rules seek to ensure that there is appropriate parity between the treatment of shareholder loans and other APTs going forward, with transitional rules clarifying the treatment of existing shareholder loans within that framework.
- Shareholder loans entered into after 22 November 2024 will be required to be submitted as an APT and subject to an FMV assessment. If the Premier League Board determines the loan to evidently not be at FMV, the club in question shall be required to terminate or vary the loan to reflect FMV and pay any identified shortfall in interest.
- Any Shareholder loan that was entered into before 22 November 2024 and which is replaced with other forms of financing (e.g. by way of conversion to equity or repayment) within 50 days (i.e. by 11 January 2025) will not be required to be submitted as an APT or assessed for FMV.
- Any Shareholder loan that was entered into after 14 December 2021 but before 22 November 2024 and remaining in effect on 11 January 2025 must be submitted as an APT. If the Premier League Board determines the loan is evidently not at FMV,  the club is permitted to retain the Shareholder loan on its existing terms, though adjustments must be made to its Annual Accounts for 2024/25 onwards as if, from 22 November 2024, the loan was at FMV.
- Any Shareholder loan that was entered into prior to 14 December 2021 and remaining in effect on 11 January 2025 must be submitted as an APT and be subject to an FMV Assessment upon any drawdown taking place after the 22 November 2024. If the Premier League Board determines the loan is evidently not at FMV,  the club is permitted to retain the Shareholder loan on its existing terms, though adjustments must be made to its Annual Accounts for 2024/25 onwards as if any drawdowns made after 22 November 2024 were at FMV.

Just on BBC news the clubs 17 of them voted to change the rules is it good or bad ? To change the rules on ownership I’m not sure ? Party transactions ? I just want this over and done with.

 

[cheekybids]

I doubt that City will have been surprised by the vote, they know how the land lies with the other debt ridden clubs.

Not much point in attending an event when the outcome is decided in advance.

City may actually be pleased, so they, and now others, can continue to hold the PL to public scrutiny until the IC publishes its report on Its findings.

The PL and their acolytes will need to be making substantial financial provisions for legal fees....this could be a very expensive matter.

Drain the swamp City.

Never miss an opportunity to show people for being the small time cunts they are.

 

[halfcenturyup]

Word.

I do wish sports journalists wouldn't describe every thing as a win, loss, or draw. It's simplistic, naive, condescending to readers and often wrong anyway.

This vote was an irrelevance really, unless the PL now think they can re-open the assessments of Etihad and FAB. Who knows? Maybe the new rules say they won't become effective until the tribunal has approved of the PL's approach, in which case no problem.

Once again, we just have to wait and see.

 

[Stoned Rose]

16-4 is a right hammering.
Its not just the cartel clubs that hate us, its the vast majority

It’s nothing to do with anyone hating (or liking us).

They are merely voting for rules that serve their own interests.

Bottom line is, if the new rules remain unlawful we will challenge them again.

If they don’t, we won’t, and will move on.

 

[TonyColemansbagofapples]

Could someone remind me of which clubs had the free loans and how much they were for please.

 

[wolviedinho]

City only asked the other 19 clubs to wait before voting again. It seems anything we suggest is automatically jumped on and ignored with a sneer, haha got you moment.

Let’s see the meat to this vote and judge then if it needs challenged again.

This narrative of us v them is clickbait tyranny. we all know the media and the cartel clubs would have power over this vote. If this was not the case we would not be targeted in the first place.

If anything todays votes only reaffirms this view that masters is only severing 2/4 clubs and the rest piggyback to keep themselves in the league pretending to compete.