Last night the fallout from the Man City APT case rumbled on with a letter now sent to the 19 other Premier League clubs by City’s lawyers. The legal ramifications resulting from the case verdict are yet to be fully understood, however, Man City are said to be ‘outraged’ at how the league have represented the verdict to the public and its shareholders.
The APT rules that were implemented a mere five days after the Newcastle United takeover was confirmed on 7 October 2021 were ‘rushed, ill-thought-out and would result in rules that were anti-competitive’ the letter City have sent to the other 19 clubs states. This comment is in relation to the original proposals the Premier League consulted with its members in late 2021 – and the City letter goes on to say that the recent award by the tribunal validates those original concerns around the rushed implementation of APT rules.
From a Newcastle perspective this surely means the commercial arm of the club must strike while the opportunity persists. Noted football finance expert Kieran Maguire agrees, he said:
‘What we have now is chaos and therefore it would be very difficult for the Premier League to initiate charges over a deal that Newcastle signed as we don’t really know what the rules are.’
Whilst the Saudi PIF and the Reuben’s have been at pains to try and stay within the ever-shifting rules presented to them by the Premier League, it must be noted that there is clearly room for the interpretation that the APT rules are null and void as they are currently written.
This issue is clearly set to rumble on, with City also said to be aghast at the Premier Leagues assertion that new APT rules will be agree within just ten days. Something which must be considered staggering if true, considering the pig’s ear they made of the first set of APT rules.
Another piece of news on the topic comes from the Times who wrote that shareholder loans and the interest that should’ve…
Source link : https://www.nufcblog.co.uk/2024/10/08/premier-league-is-misleading-and-inaccurate-man-city-letter-goes-public/
Author : Jonathan Young
Publish date : 2024-10-08 16:36:21
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