Before our takeover the definition of a RPT in the PL's rules was this:
“Related Party Transaction” means a transaction disclosed in a Club’s Annual Accounts as a related party transaction or which would have been disclosed as such except for an exemption under the accounting standards under which the Annual Accounts were prepared;
Following our takeover they changed the term to Associated Party Transaction and this is the current definition:
An “Associated Party” is a Person that is associated with the Club. In considering each possible Associated Party relationship, the League will direct its attention to the substance of the relationship and not merely the legal form.
1. A Person is associated with a Club if that Person or, where that Person is an individual, a close member of that individual’s family (i.e. those family members who may be expected to influence, or be influenced by, that individual in his dealings with the entity, including that individual’s parents, children, siblings and spouse or domestic partner, children of that individual’s spouse or domestic partner, and dependents of that individual or that individual’s spouse or domestic partner):
(a) has Control or joint control over the Club;
(b) holds a Holding in excess of 5% of Shares;
(c) holds a loan interest or other debt or security interest of any kind in the Club or an entity in the same group of companies as the Club, with the exception of any such interest held:
(i) as part of regulated banking services provided by a Financial Institution;
(ii) in the form of bonds, notes or other securities held by professional investors; or
(iii) pursuant to a debenture providing the holder with access to tickets to events at the Club’s Stadium;
(d) has Material Influence over the Club or an entity in the same group of companies as the Club; or
(e) is a Director or member of the key management personnel of the Club or of a Parent Undertaking of the Club.
2. A Person is also associated with a Club if any of the following conditions apply:
(a) the Person and the Club are members of the same group of companies;
(b) the Person and the Club are directly or indirectly controlled, jointly controlled, or Materially Influenced by the same government, public or state-funded body or by the same party;
(c) the Person (or a Director or member of the key management personnel of the Person) has Material Influence over the Club (or vice versa);
(d) the Person is an associate or joint venture of the Club (or an associate or joint venture of a member of a group of companies of which the Club is a member) (or vice versa); (e) both the Person and Club are joint ventures in which the same third party is a shareholder;
(f) the Person is a joint venture in which a third party is a shareholder and the Club is an associate of the third party (or vice versa);
(g) the Person is controlled or jointly controlled by a Person identified in paragraph 1;
(h) an individual identified in paragraph 1(a) has Material Influence over the Person or is a member of the key management personnel of the Person (or of a parent of the Person); or
(i) the Person, or any member of a group of which it is a part, provides key management personnel services to the Club;
“Associated Party Transaction” means, in respect of any Club, a Transaction that is, whether directly or indirectly, between:
(a) a Club and an Associated Party;
(b) a Player registered to the Club and an Associated Party of that Club; or
(c) a Manager or Senior Official of the Club and an Associated Party of that Club,
with the exception of any Transaction pursuant to which the Club, Player, Manager or any Senior Official of the Club is exclusively a purchaser of goods or services (and does not receive any payment, fee or monetary equivalent) and the total value of any consideration either paid or to be paid by the Club or individual (as applicable), when added to any consideration paid or to be paid by the Club or individual (as applicable) in respect of other Transactions with the same party agreed in the preceding three years, is less than £500,000 (and subject to Rules E.70 to E.71). In considering whether a Transaction is an Associated Party Transaction, the League will direct its attention to the substance of the Transaction and not merely the legal form;