Manchester City has emerged victorious in their legal battle concerning the Premier League's associated party transaction (APT) regulations, following a tribunal ruling that deemed certain aspects of these rules unlawful. The reigning champions announced that they had "succeeded" in their challenge against the APT regulations, as the tribunal panel found that the exclusion of shareholder loans from APT calculations, along with the manner in which clubs were notified about "benchmarking" decisions, was not lawful. While Manchester City celebrates this outcome, the Premier League has stated that the verdict ultimately represents a victory for the league itself.