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Manchester City and the Premier League have reached a settlement in their dispute over the rules governing Associated Party Transactions (APTs).
This legal action is separate to the one covering more than 100 charges against City for alleged breaches of Premier League financial rules. The club deny the charges.
It remains unknown when a judgement on that case will be announced.
City had launched arbitration proceedings on January 20 against the current rules, which are designed to ensure that deals between clubs and entities linked to their ownership are done at fair market value.
It was set to go to trial in October, but the settlement agreement means this will not be necessary.
City's challenge was understood to have included criticism of the way the Premier League treated shareholder loans under the rules. The league and City have agreed to make no further comment on the matter.
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What are the Associated Party Transaction rules?
- The Premier League's rules require any club, its players, manager or any 'senior official' to run dealings with 'associated parties' past them.
- 'Associated parties' are companies or people who have a significant interest in the relevant club, financially or otherwise.
- The Premier League's board then reviews each transaction to assess whether it believes they represent a fair market value.
- The league says the rule helps to build 'fairness' across the division by ending a 'reliance on enhanced commercial revenues linked to the club's ownership'.
In a statement Man 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."
The Premier League also released a statement, confirming the settlement.
"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."
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