Fred Quick 16/11/2024 1comment  |  Jump to last

Hostilities between Manchester City and the Premier League are intensifying ahead of a crunch vote as they ferociously attack each other’s positions in new leaked letters.

City have written to rivals to tell them they are voting “blind” next week on amendments to associated-party transaction (APT) rules that remain “void” while a tribunal clarifies a 175-page ruling last month.

The league, however, has sent a lengthy letter dismissing the club’s interpretation of findings and taking particular exception to criticism in a prior letter from City regarding its role as a regulator.

» Read the full article at The Telegraph, via MSN

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Fred Quick
1 Posted 16/11/2024 at 15:28:36
Man City and the Premier League are once again at loggerheads, but we all have to hope that Everton aren't adversely affected by a vote which is due to take place next Friday. It's little wonder that Evertonians feel as if the fates conspire against their club.

‘This exemption is one of the very things that was found to be illegal.'

But City are fighting league proposals to introduce a “retrospective exemption for shareholder loans for the period from December 2021 until the rules come into effect”.

“This exemption is one of the very things that was found to be illegal in the recent arbitration,” writes Simon Cliff, City Group's General Counsel, in the new letter. “It is not lawful to re-introduce it into the rules.”

More than half of top-tier clubs have soft loans from owners included in their most recent accounting period. The likes of Everton, who have been propped by loans from outgoing owner Farhad Moshiri, would be in severe danger of breaching spending rules again if an exemption is not introduced.

The introduction of shareholder loans in spending calculations against Profitability and Sustainability Rules could also now be consequential for the likes of Manchester United as they plot major development in the Old Trafford area.

“Even going forward, the proposals would create market distortions,” Cliff writes in his letter pleading with clubs not to “rush” through new rules. “For example, whereas clubs have to wait for Premier League approval before receiving the benefit of commercial transactions, they would be free under the proposals to take the benefit of shareholder loans before Premier League approval.

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