Yes. If Jamie Carragher did summations!
Fyi, sponsorship is already regulated, and City have had no problem with this since it was implemented. The Etihad deals have also passed the fair market value test, and are not deemed inflated.
The challenge is to the February addition, where parties deemed associated, have to do an additional level of justification, show competing lower bids, and the PL have the right to adjust the value of the deal. After, it has already passed the fair market test btw. That is what is being challenged.
There are a few issues there. One it doesn't apply to all deals, so there is an implied 'targeting', two who determines what is associated, three who determines the ultimate 'fair' value and how, and four it fucks the sponsors over by revealing their competative bidding process.
I see why City are challenging it, I also see the logic for the challenge to be successful, to a large extent.