Premier League chief Richard Masters slammed in new Arsenal and Tottenham protest

It may still be some time before new associated party transaction (APT) rules are proposed by the Premier League following the first full top-flight meeting since Manchester City's legal challenge outcome was made public. City had challenged the league's associated party transaction (APT) rules on competition law grounds via arbitration.

The arbitration panel deemed these rules, designed to ensure fair market value in deals between clubs and entities linked to their ownership, as unlawful because they excluded shareholder loans. City argued that this rendered all APT rules void and accused the Premier League of misleading the other 19 clubs in its initial interpretation of the panel judgement.

The league has since sought clarification from the panel over the judgement's implications and has been canvassing clubs about changing the aspects of the rules found to be unlawful or unfair. Now, the league, in collaboration with its clubs, is exploring how to include shareholder loans within the APT rules and requested feedback by October 10 from clubs about the shareholder loans they have, or have had in the last three years.

Last Thursday, two Premier League working groups met to further scrutinise proposals for rule amendments, which were put to all 20 clubs – including City – at a hybrid meeting lasting around an hour on Tuesday. Following the feedback received at the meeting, the league is set to further revise the proposals before circulating them to clubs again.

According to the Times, at the meeting on Tuesday, clubs were told that a complex process is underway in regards to changing the rules. Earlier this month Richard Masters sent an email reassuring members that things would be dealt with quickly.

Even after a draft of the new rules has been created - something which takes extensive legal work - there have to be at least 21 days before a vote can be taken. Things are especially uncertain currently, the report continues, with City and the league both waiting for a definitive outcome over just where they stand in regards to APT rules now.

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At the meeting, Masters is described as being the target of a City fan protest outside his London office. A group have admitted to being behind a billboard that suggested Masters was being controlled by Manchester United, Liverpool, Arsenal, and Tottenham.