Manchester City have taken legal action against the Premier League in the hope of changing rules they feel are ‘discriminatory’. But what does it all mean?The eight-time champions have launched a legal case against the league with a number of their own complaints, ranging from rules on Associated Party Transactions and multi-club ownership, with a two-week tribunal starting on June 10 to find an outcome.
Details of any APT must be submitted to the Premier League, who will then conduct a Fair Market Value assessment to ensure its legitimacy.While rules over Related Party Transactions did exist before, the Saudi Public Investment Fund takeover of Newcastle in October 2021 triggered a monumental change and the guidelines were tightened over concerns the new owners could exploit loopholes with lucrative, favourable commercial deals to strengthen their spending power, giving them an unfair advantage.
It was added that rules sought to ensure ‘the long-term financial sustainability of clubs by extinguishing reliance on enhanced commercial Four of their ten biggest sponsorship deals are with companies based in the United Arab Emirates: Etihad Airways, Etisalat, Abu Dhabi Tourism and Emirates Palace. So, too, are Chelsea. Their front-of-shirt sponsor is Infinite Athlete, a company which counts the Blues’ co-owners Todd Boehly and Behdad Eghbali among their investors. But Chelsea’s issue appears to lie more with the multi-club ownership facet of City’s legal challenge.
The Premier League rulebook states that FMV is what something would be sold or exchanged for ‘between knowledgeable, willing parties engaging in an arm’s length transaction in normal market conditions’.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SkySports - 🏆 58. / 63 Read more »
Source: SkySports - 🏆 58. / 63 Read more »
Source: sportbible - 🏆 89. / 53 Read more »