The clubs of the English Premier League will have a meeting on Tuesday to discuss the changes in the financial rules that they requested from Manchester City, DPA reports.
Clubs will consider how to include shareholder loans that do not break the rules after the Arbitration Panel said the current rules breach UK competition law. Tuesday will be the first meeting between the clubs since the court decision, which is from October 7. Manchester City have accused the League of “misleading” clubs as some of the rules are against the law.
The rules seek to ensure that commercial transactions between clubs relating to their property are carried out at fair market value. This is to avoid inflating these deals in order to increase revenue. Clubs were asked by October 10 to provide information on the mix of shareholder loans and equity loans they have or have had in the last three years. The agreement between the clubs is that only new shareholder loans can be accepted under the rules, not old ones.
No rule changes will be voted on Tuesday. The proposals, which will be discussed by the clubs on Tuesday, have already passed through two working groups in the league, among which is the advisory group for financial control, writes gol.bg.
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