City had been challenging the Premier League amendments to the Associated Party Transactions (APT), but have now agreed not to take their arguments to a tribunal.
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The Premier League has previously blocked the deal, believed to be worth hundreds of millions of pounds, on the grounds that it does not represent a “fair market value” deal for Man City, a key consideration under APT.
“Manchester City accepts that the current APT rules are valid and binding,” a joint statement from the club and the league said.
APT has become a fierce battleground
This was the second time that City had challenged the league over APT, the rules which govern sponsorship deals between football clubs and companies also controlled by their owners.
They then attempted to challenge the league’s amendments to those rules, and were due to go before a tribunal, before Monday’s statement confirming the matter had been settled.
More to follow…
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