Sports News of Friday, 22 November 2024
Source: www.ghanawebbers.com
Premier League clubs have approved changes to rules governing commercial deals, despite opposition from Manchester City, Newcastle United, Nottingham Forest, and Aston Villa. At a Friday meeting in London, 16 clubs voted in favor, surpassing the 14-vote threshold needed for approval.
The revisions affect Associated Party Transaction (APT) regulations, designed to prevent clubs from profiting from sponsorship or commercial deals with owner-linked companies at values above fair market rates.
The changes include adjustments to shareholder loan assessments and the removal of some earlier amendments.
Manchester City and Aston Villa had sought support to oppose the changes, but their efforts fell short. Representatives from Chelsea and Manchester United spoke in favor of the new rules, while Manchester City's representative chose not to address the meeting.