Man City and Premier League reach settlement agreement over dispute ahead of trial in October

City were set to go to trial with the Premier League in October over these commercial deals. The APT rules are designed to ensure that deals between clubs and other partners linked to their ownership are done at fair market value. After initially saying the new regulations were "unlawful", City have now accepted that the APT rules are "valid and binding".

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."

Importantly, this legal action is separate from the one covering the 115 charges against City for alleged breaches of the Premier League's financial rules. The Cityzens have criminal charges against them but that battle is likely to rumble on for quite some time. That result could have huge ramifications for football itself.

Before that gargantuan legal battle plays out, Pep Guardiola's side take on local rivals Manchester United when the Premier League returns this weekend. City will hope to bounce back from two straight losses, while United will be keen to make it two wins in a row.