11.10.2024
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Premier League
Premier League clubs rally around CEO Richard Masters after Manchester City case
Premier League clubs are preparing to back chief executive Richard Masters at an emergency AGM next week. The meeting will focus on the fallout from a legal battle that has seen some of the league's financial rules ruled illegal and unfair.
Manchester City have challenged the legality of rules on transactions with affiliated parties, tightened after a vote by clubs in February. One club owner said, "There is no civil war and the majority of clubs support Richard. We want to keep the rules but realize they need to be changed."
Highlights:
- The Affiliated Party Transactions rules require clubs and their management to coordinate transactions with organizations or people associated with the club to verify their market value.
- These rules were created to ensure financial integrity in the league and to prevent unwarranted increases in revenue through transactions with affiliated parties.
- The tribunal ruled that the rules violate the law because they do not take into account shareholder credits of clubs.
- Manchester City says the rules no longer apply after the tribunal's ruling.
The Premier League says it will be able to make changes to comply with the legislation and preserve the rules' main objectives.
The Premier League says it will be able to make changes to comply with the legislation and preserve the rules' main objectives.The issues raised at the upcoming meeting are likely to divide clubs into those who support Manchester City and those who support the Premier League.
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