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Manchester City and the Premier League have reached an out-of-court settlement ahead of an October trial concerning Associated Party Transaction (APT) rules.
The club had previously challenged these rules earlier this year, with a court case scheduled for next month. However, that will no longer be necessary due to the recent settlement. As part of the agreement, City acknowledges that the current APT rules are "valid and binding."
Liverpool fans will be interested to hear this ruling, but it is separate from the 115 charges brought against City by the Premier League for alleged financial misconduct; City denies these allegations. The outcome of these 115 charges could have huge implications on City, one of Liverpool's main rivals for the Premier League title.
In a statement, City said: "The Premier League and Manchester City FC have reached a settlement in relation to the arbitration commenced by the club earlier this year concerning the Premier League's Associated Party Transaction (APT) Rules and as a result the parties have agreed to terminate the proceedings.
"This settlement brings an end to the dispute between the parties regarding the APT Rules.
"As part of the settlement, Manchester City accepts that the current APT Rules are valid and binding.
"It has been agreed that neither the Premier League nor the club will be making any further comment about the matter."
Last November, Premier League clubs voted 16 to 4 in favor of amending the rules on Associated Party Transactions.
These APT rules evaluate whether transactions between clubs and entities connected to their ownership represent fair market value.
City's legal representatives argued that the revised regulations were still biased.
They held the belief that rivals would maintain an unfair advantage even with the newly implemented changes.
City has made a slow start to the season under Pep Guardiola, losing to both Tottenham and Brighton after an emphatic 4-0 win against Wolves on the opening day of the season.
That leaves City 13th in the Premier League table, already six points behind Arne Slot's Liverpool.
The Reds will take on City in Manchester in two months' time.
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