Aston Villa owner to reject Premier League rule changes
Aston Villa owner Nassef Sawiris has stated the club will join Man City and vote against new Premier League rules around commercial deals.
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On Friday, Premier League clubs are set to vote on changes to Associated Party Transaction regulations at a meeting.
Man City have already written to the other top flight clubs to express their concern over unlawful changes to the league rules.
On Friday, top-flight clubs will vote on the changes to Associated Party Transaction regulations (APTs) at a Premier League meeting.
The biggest change being proposed is to make the rate of interest on shareholder loans subject to a fair market value test.
The change in the rule will not require fair market value interest charges to be backdated to the time the loan was issued.
However, it has been reported that the change means interest rates would be applied an an existing loan in the future after a grace period, and not just for new loans.
In the grace period, owners and shareholders who have put in loans will have the chance to convert them into equity.
Villa's owner has argued the league needs a fresh start and a vote on the rule changes should be delayed until February.
In a statement given to the Telegraph, the Villa owner has confirmed he will vote against the rule changes.
He said: "In our view, a vote in 90 days on amended terms taking into consideration the tribunal’s findings will have a significantly greater chance of securing the unanimous support of all 20 Premier League clubs," he said.
