Premier League face backlash over fresh rule change that will impact Newcastle United, Man Utd & Man City
and live on Freeview channel 276
The Premier League have confirmed new rules will be introduced regarding associated party deals following a vote by clubs.
Shareholders of Premier League clubs were in London this week for a two-day meeting to discuss various proposals, including potential changes to profitability and sustainability rules. But there has also been a vote on associated party transactions with 12 clubs voted in favour of more strict rules while six voted against and two abstained.
A Premier League statement read: "Following a full review of the existing Associated Party Transactions Rules and Fair Market Value assessment protocols, clubs agreed to a series of amendments to further enhance the efficiency and accuracy of the system."
It has been reported that one Premier League club, suggested by Sky News to be Manchester City, has warned the Premier League that it could face a legal backlash over the new rules. Manchester United could also face new commercial challenges given the imminent minority takeover from Sir Jim Ratcliffe's INEOS group. Back in November, Premier League clubs voted against proposals to block associated party loan deals that would have prevented Newcastle United from doing any loan business with Public Investment Fund-owned Saudi Pro League sides. A vote also blocked associated party commercial deals from being required to have proof of multiple commercial offers of the same value or risk being blocked by the Premier League.
Shortly after PIF acquired Newcastle in 2021, Premier League clubs voted to implement a temporary ban on associated party commercial deals. Since the ban has been lifted, Newcastle have agreed major commercial deals with PIF-linked companies such as Noon, Sela and Saudia.
New, more stringent, rules will see any future associated party commercial deals come under increased scrutiny in relation to the Fair Market Value assessment.