Premier League clubs vote to change financial rules after challenge by Man City

By JAMES ROBSON The Associated Press

Premier League clubs have agreed to amend rules to one of the competition’s key regulations relating to financial fairness following a legal challenge by Manchester City. After a vote by the 20 top flight clubs shareholder loans will now be subject to fair market value. Previously such loans could be offered at lower or no interest rates. The league said in a statement that the rules provided a “robust mechanism to safeguard the financial stability, integrity and competitive balance” of the world’s most popular soccer league.