Jackie Broon

Hopefully, yes.

Doesn't matter. That's how the government stopped the ESL, they said they would legislate to prevent English clubs from joining, which the PL couldn't do because it would have been unlawful.

If it it ends up in the act it would be law, it wouldn't need to comply with existing UK company law.

It depends on the tribunal's final determination, they might well confirm that the APT rules and even PSR as a whole is void from 2021 until there are lawful rules in place.

I'm sure you'll beat 'em with experience Rod.

What you're reading is three senior judges, including a knight and a lord, saying that it was legitimate. I don't agree with the approach of the PL but the argument that it was corrupt for them to respond to our takeover by tightening the rules around related party transactions has already been had and lost.

Except the tribunal in Man City's case considered that point and concluded that it was legitimate for the PL to change the rules in response to our takeover: 187. We accept that the acquisition of Newcastle United by an investment group led by the Saudi Arabian public investment fund on 7 October 2021 was the catalyst for the consultation process leading up to the APT Rules which led to the setting up of FCAG on 21 October, and the imposition of a moratorium on APTs agreed at the shareholders’ meeting on 11 November 2021. The consultation process ran from 21 October to mid-December 2021, as set out at [27-47] above. 188. We do not, however, find that the APT Rules were targeted specifically at clubs owned by companies in the Gulf region but were rather intended to apply to any club that might use APTs. REDACTED was called to give evidence by the PL and was cross-examined. Although his email dated 12 October 2021 was said by counsel on behalf of MCFC in closing submissions to be evidence that the APT Rules were targeted at certain clubs, in particular, those in “the Gulf region”, it was clear from his evidence that it was not so targeted save in the sense that at the time the email was sent there was concern that Newcastle United might be about to enter into APTs with entities in Saudi Arabia. REDACTED considered that “any club that benefits from a transaction not at fair market value should be subject to the same rules, just as we would expect that.” He explained that “if, for example, we were talking about a takeover of another club by an American consortium who had links to lots of American companies” he would have expressed the same concerns. He said that “there had been concern for a number of years about related party transactions, associated party transactions taking place at above market value”. He explained that “the takeover of Newcastle United heightened those concerns again and encouraged the clubs to seek action.” We were satisfied that, whilst it was the takeover of Newcastle United which caused him to send his email when he did, ’s concern related to any club that might use APTs. 189. In conclusion, we find that there was a sufficient evidential basis for the PL and the clubs to conclude that the ex post PSR rules were ineffective in controlling APTs, and that it was necessary to move to ex ante regime. This was the objective of the APT Rules (and later the Amended APT Rules).

This vote was never about whether to get rid of PSR, clubs were voting against it because it's not fair and probably not lawful in how it deals with the shareholder loans issue. If anything, the vote for it is a greater risk to the future of PSR because the tribunal could end up going in dry on the PL in their final judgment.

Not surprising, clubs that would otherwise be anti-PSR Chelsea, Everton, Forest and Leicester have huge shareholder loans on the books and so were never going to vote against it.

The rules basically just go back to what they were before the amendments in February, we're still hamstrung by them but not as hamstrung as we were in our ability of inflate our sponsorship income over time.

I just can't see how it can be lawful, not applying FMV to shareholder loans has been determined to be unlawful and the accounts for the past three years PSR is assed on won't have FMV applied to shareholder loans. I'm sure the PL will have legal arguments to say it is but it is hard to see what they would be other than just saying it would be unfair to apply it retrospectively.

Because the status quo also helps to keep the gap between the mid-table PL team and the promoted team growing ever wider, and helps to keep £100m a season rolling in for just passing go.

Stuff like that happens all of the time, for example council committees going against professional advice, that's how people with power often act.

Because the the only alternatives are too unpalatable to the clubs who hold the power. Their only lawful options seem to be to apply FMV to shareholder loans retrospectively over the current three year PSR cycle (which would screw the likes of Chelsea and Everton) or wipe the PSR slate clean and start again. But the majority of clubs just won't accept either of those options.