Richard Masters breaks silence in letter to Liverpool and other clubs after Man City bombshell

Richard Masters breaks silence in letter to Liverpool and other clubs after Man City bombshell

Richard Masters has written to Premier League clubs as their battle with Man City over APT rules continues

Richard Masters, Chief Executive of Premier League

Premier League chief executive Richard Masters has written to Liverpool and the other 19 clubs in the top flight to warn there will be no quick fix to associated party transaction rules (APT) after a legal battle with Manchester City ended last week. Both the league and City sought to claim victory after the case was concluded, with an independent panel siding with both parties on different issues.

The Premier League initially released a statement to say their APT rules could be quickly amended to bring them in line with the panel's ruling, with City then reportedly contacting rival clubs to issue their own warning against any "knee jerk reaction" to the ruling.

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And the battle between City and the Premier League is showing no sign of ending, with the Manchester club accusing the league of "misleading" their clubs.

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The Times report that Masters has since written to all top-flight clubs, informing them the league would take “the necessary time to develop our proposals and the associated draft rule amendments” with an emergency meeting thought to be set for next Thursday for clubs to discuss what happens next.

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Masters wrote: “There have been many club conversations over recent days, with constructive and informative feedback provided.

“Also, thank you to those who provided information on shareholder loans. We now have a comprehensive set of information and data which is helping to inform our recommended approach and rule amendment drafting.”

"We will circulate these to clubs when fully considered and ready, which may impact on the scheduling of our planned meetings with financial controls and legal advisory groups, and all clubs next week."

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City's claim that parts of the APT rules are unlawful were upheld by the panel, who adjudged the rules didn't take into account interest-free loans which shareholders lend to clubs, of which Liverpool have around £71m worth. As a result, they claimed they were blocked from completing two huge deals by rules introduced in 2021.

However the panel, made up of three retired judges, sided with the Premier League on 23 of 25 points contested.

Liverpool were one of the clubs to give evidence on the Premier League's behalf, with Reds owners FSG long-term supporters of rules such as PSR to ensure a level playing field in the top flight.

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Liverpool owner John Henry told the ECHO in 2023: “You are right that there are ever-increasing financial challenges in the Premier League.

"The league itself is extraordinarily successful and is the greatest football competition in the world, but we’ve thought for some time there should be limits on spending so that the league doesn’t go the way of European leagues where one or two clubs annually have little competition.

“Excitement depends on competition and is the most important component of the Premier League.”

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