The Premier League has relaxed its definition of “fair market value” as one of its amendments to the rules on associated party transactions (APT) that Premier League clubs will vote on later this month.

The changes were forced after Manchester City claimed victory on the Premier League after an independent tribunal concluded last month that certain elements of the rules were “illegal”.

The times has had eyes on the 14-page document detailing the Premier League’s proposed rule changes on APTs, which has now been distributed to clubs ahead of the November 22 vote, which if approved would see “significantly looser” restrictions, “opening the door to great agreements.” .

The document focuses on the key parts of the rules: the exclusion of shareholder loans, the definition of “fair market value” and – on what The times We believe that it could be “of great importance”: the removal of the words “under normal market conditions” from the existing rules.

The report states:

“The panel cited the exclusion of shareholder loans (interest-free loans from companies or individuals who have more than a 5 per cent stake in the club) as a key area that needed to be addressed, with the English champions arguing that the cost of such loans should be included in the League’s financial regulations.

‘In the proposal document, the definition of “fair market value” has been relaxed slightly, moving from whether the amount “would” be sold to “could” be sold between willing parties.

‘However, of potentially enormous importance is the fact that the words “under normal market conditions” have disappeared from the existing rules, along with three paragraphs describing what that actually means. The city’s legal dispute was sparked by a block placed on a major new sponsorship deal with Abu Dhabi-owned Etihad Airways, but the rule change would appear to take into account the value that a wealth-rich Middle Eastern state oil can grant to an association. with a top-level English football club.

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The clubs will meet at the Nobu Hotel in Portman Square in a couple of weeks and “Premier League officials hope this will bring some peace to a situation that has become a civil war between rival clubs.”

Premier League bosses are hoping for a quick resolution given they are also currently locked in a battle with Manchester City over their 115 alleged breaches of financial fair play, but City, for whatever reason, want to drag out the process, causing a “shock ” between their rival clubs in the process.

The report adds:

“However, it will be interesting to see if further concerns arise given the speed with which the Premier League is trying to resolve the matter in the context of the hearing into the 115 charges brought against City for alleged breaches of financial rules.

‘The Premier League’s claim that amendments to the APT rule could be implemented “quickly and effectively” was immediately countered by City’s legal adviser, Simon Cliff, who accused Richard Masters, the Premier League’s chief executive, of “fool the clubs” and warn against a “knee-jerk reaction.”

‘Cliff said it was a time “for careful reflection and consideration”, inviting clubs to contact him directly if they wanted a more detailed reading of the 175-page award document published by the tribunal. This came as a shock to some clubs, even if others have been more sympathetic to City’s cause.

“If clubs vote on the new amendments, which have been drafted with the help of ‘senior counsel Daniel Jowell KC’, they will come into force immediately.”