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Manchester City, Premier League both claim victories after APT ruling delivered

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Manchester City, Premier League both claim victories after APT ruling delivered

Manchester City and the Premier League are both claiming victories after a ruling regarding the league’s Associated Party Transaction (APT) regulations was published.

The ruling states that the Premier League’s APT rules and amendments, which were introduced in December 2021 and February of this year respectively, are “unlawful” and in breach of UK competition law as they deliberately exclude shareholder loans — when a club borrows money from its ownership group, usually interest-free.

This case is separate from City’s defence of more than 100 charges against them for allegedly breaching the Premier League’s profitability and sustainability rules (PSR), which they deny.

In this case, City claimed that the league’s APT rules — which aim to regulate against its clubs using sponsorship deals with companies linked to their owners to inflate revenue streams and allow room for greater spending — are unlawful and against competition law. The league insisted that the rules were fully compatible with the law.

A statement from City on Monday outlined that the Premier League “was found to have abused its dominant position” by the tribunal. City also pointed out that the panel has ruled two of the league’s decisions on the club’s sponsorship deals — relating to the Etihad Air Group and First Abu Dhabi Bank — should be set aside.

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The Premier League, meanwhile, said that it “welcomes” the ruling. The league admitted that the ruling identified “a small number of discrete elements” of the APT which do not comply with competition law but claims it “(endorses) the overall objectives, framework and decision-making of the APT system”.

The Premier League added that the tribunal had deemed the APT rules “necessary” as a means of ensuring the efficacy of the league’s Profitability and Sustainability Rules (PSR), “thereby supporting and delivering sporting integrity and sustainability in the Premier League”.

City have won the last four Premier League titles (Naomi Baker/Getty Images)

City have won the last four Premier League titles (Naomi Baker/Getty Images)

The Premier League says it will continue to operate the APT system, “taking into account the findings” of the tribunal. It added that the elements that do not comply with competition law “can quickly and effectively” be fixed.

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The ruling was delivered by a three-person arbitration panel and came after City challenged the league’s APT rules. The case was heard in June.

An amendment to the current APT rules was set to be discussed at a meeting of Premier League shareholders on Thursday but was removed from the agenda ahead of time.

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A key part of Monday’s ruling related to the issue of shareholder loans.

The tribunal decided that as well as sponsorship deals, shareholder loans should also be taken into account by the APT rules. Many of these loans are interest-free, which benefits the club because they will subsequently owe a smaller amount. Arsenal, for example, have borrowed more than £200million ($262m) in shareholder loans, as of the end of 2022-23.

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Historically, interest-free shareholder loans have been excluded from the APT rules, which City claimed was unfair. Their argument is that this distorts the profitability and sustainability (PSR) calculations because an interest-free loan cannot be a fair market value. The tribunal agreed with them.

In theory, this means that if interest-free shareholder loans are included within PSR, many clubs will have to rebalance their books in order to avoid a breach.

Arsenal owe more than £200m to their owner, Stan Kroenke (right) (Glyn Kirk/AFP via Getty Images)

Arsenal owe more than £200m to their owner, Stan Kroenke (right) (Glyn Kirk/AFP via Getty Images)

In June, a 165-page legal submission seen by British newspaper The Times showed that City argued they have suffered “discrimination” as a result of the league’s APT rules, alleging they amounted to a “tyranny of the majority”. Premier League rules dictate that a majority of 14 clubs must agree to new regulations being implemented.

Premier League clubs voted through temporary measures relating to APT in October 2021. That came following the Saudi Arabian Public Investment Fund (PIF) taking control of Newcastle United earlier that month. In December 2021, it was ruled that clubs must submit all sponsorship deals worth over £1million ($1.26m) to the Premier League to decide on the possibility of an APT — despite opposition from City and Newcastle.

Those rules were then were strengthened in February 2024 following another vote among the clubs, who voted in favour of a framework that sees all APTs subjected to a fair market value test, meaning that any deal would have to be financially justifiable for all parties.

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There had previously been concerns that ownerships could use multiple companies under their jurisdiction to strike sponsorship agreements that would artificially inflate their own revenue and circumvent PSR rules.

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The APT rules, though, ensured that Newcastle have had their sponsorship agreements with PIF-linked events company Sela and e-commerce company Noon subjected to the market value tests.

It is also applicable for any sponsorship agreements between City and other groups with links to the club’s City Football Group (CFG) ownership. City have always voted against or abstained against the introduction of APT rules at Premier League meetings.

In 2022-23, City posted Premier League record revenues of £712.8m (now ¢953m), of which almost half — £341.4m — was commercial income.

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Much of City’s revenue came from companies with links to CFG. Etihad, the state airline of the United Arab Emirates, is the lead sponsor for both City’s shirt and stadium.

Etihad Airways has been City's primary shirt sponsor since 2009 (Stu Forster/Getty Images)

Etihad Airways has been City’s primary shirt sponsor since 2009 (Stu Forster/Getty Images)

Leicester City are also implicated by the APT regulations. Their chief executive and chairman Aiyawatt Srivaddhanaprabha also controls the King Power company, which is the lead sponsor of the club’s jersey, stadium and training kit.

However, City and Newcastle’s close links to state investment offer them a more extensive network of related companies — which is why rival Premier League clubs mobilised to close the loophole.

UEFA also has its own fair-market value test. City’s legal case does not address those laws and the club will still have to comply with them in European competition.

The Athletic will bring you a full breakdown of the decision and its implications in the near future.

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(Top photo: Visionhaus/Getty Images)

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‘Demon’ Finn Balor settles score with Dominik Mysterio at WrestleMania 42

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‘Demon’ Finn Balor settles score with Dominik Mysterio at WrestleMania 42

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Finn Balor and Dominik Mysterio were once brothers in arms in the Judgment Day. The two helped the faction run “Monday Night Raw” for several years.

As championships and opportunities came and went, the rift between Balor and Mysterio grew. It came to a head when Balor caused Mysterio to lose the Intercontinental Championship to Penta. Balor leaving the Judgment Day left Mysterio and Liv Morgan as the leaders with JD McDonagh, Raquel Rodriguez and Roxanne Perez sticking around.

Finn Balor is introduced before his match against Dominik Mysterio during WrestleMania 42 at Allegiant Stadium in Las Vegas, Nev., on April 19, 2026. (Ethan Miller/Getty Images)

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The latter four chose to ride with Mysterio and attacked Balor on one episode of Raw.

The bitter war led to a match Sunday night at WrestleMania 42. To make matters more interesting, Raw General Manager Adam Pearce made the match a street fight hours before the show was set to begin.

Balor had vowed to bring the “Demon” out and he certainly did.

JACOB FATU PUTS DREW MCINTYRE IN THE ‘REAR VIEW’ IN UNSANCTIONED MATCH AT WRESTLEMANIA 42

Finn Balor is introduced before his match against Dominik Mysterio during WrestleMania 42 at Allegiant Stadium in Las Vegas, Nev., on April 19, 2026. (Ethan Miller/Getty Images)

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Balor made his way to the ring in his “Demon” gear, dripping with red and black paint. Mysterio was in a mask with other Mysterio supporters.

The two then proceeded to beat the crud out of each other.

Mysterio wrapped Balor’s head in between a chair and hit a 619 on him. He tried to pin Balor, but to no avail. At another point, Mysterio tossed Balor through a table set up in the corner.

As many have learned, it’s hard to keep your demons down. Mysterio learned the hard way.

Balor would not give up. Balor clotheslined Mysterio, hit him with a chair multiple times before wrapping his head in between the chair and drop-kicking him into the corner. Balor put Mysterio onto a table and hit the Coup de Grâce for the win.

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Dominik Mysterio is introduced before his match against Finn Balor during WrestleMania 42 at Allegiant Stadium in Las Vegas, Nev., on April 19, 2026. (Ethan Miller/Getty Images)

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Balor excised his own demons, while Mysterio is still haunted.

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Ryan Ward has a solid debut, but bullpen blows it again as Dodgers lose to Rockies

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Ryan Ward has a solid debut, but bullpen blows it again as Dodgers lose to Rockies

What do you know? The once-stampeding Dodgers have been caged by the Colorado Rockies.

With a 9-6 loss Sunday at Coors Field, the two-time defending World Series champions lost back-to-back games for the first time this season. The Dodgers again couldn’t hold a lead, letting the Rockies tee off for 15 hits.

Nor could the Dodgers keep up offensively at the hitter-friendly park — though they put some pressure on in the ninth inning, when Shohei Ohtani led off with a ground-rule double and the Dodgers scored twice to cut the lead to three runs. Then the new guy, Ryan Ward, made the final out in his big league debut, robbed of a hit and a chance to keep chipping away by a diving Troy Johnston in right field.

Before that, the Rockies — who beat the Dodgers twice in 13 meetings all of last season — chased starter Roki Sasaki from the game in the fifth inning and then ruffled the Dodgers’ relievers. That included closer Edwin Díaz, who came on in the eighth and promptly gave up three singles, a walk and two runs before being pulled with the Dodgers trailing 8-4.

Dodgers starting pitcher Roki Sasaki gave up three runs on seven hits in 4-2/3 innings Sunday against the Rockies in Denver.

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(David Zalubowski / Associated Press)

He and Blake Treinen combined to face eight batters without getting an out.

“They both weren’t sharp,” said manager Dave Roberts, who had theories but not many answers — though he did have real concern, especially about Díaz, who recently had his right knee checked out by the medical staff.

Roberts said the closer wanted to pitch after nine days off, even though it wasn’t a save situation. But his velocity was slightly down (95.4 mph vs. 95.8) and so, “today was a tough evaluation,” the manager said.

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“It really was,” Roberts said. “Because, you know, I know what it’s supposed to look like, and when it doesn’t look like that, it gets a little concerning, really.”

And losing for the second time to the Rockies, who are now 9-13? Being in danger of losing their four-game series, after arriving in Denver without having lost to a National League opponent, against a club that hasn’t made the postseason since 2018?

It’s well below the bar the Dodgers have set, and it added a bitter note to Ward’s otherwise sweet debut.

Ward punched a big league clock for the first time wearing No. 67 and cranked his first hit off Rockies starter Michael Lorenzen in the fourth inning, lining a changeup to right field for a single that scored Andy Pages, made it 3-0 and got the 20-some members of Ward’s party up, jumping in place, hugging and high-fiving.

“When I was on first base, I got to see them all jumping around up there,” Ward said. “That was a pretty special moment.”

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He also singled in the sixth and swung on the first pitch in his first at-bat, a fly out in the third inning.

The Dodgers gave Sasaki a 2-0 lead in the third. Alex Freeland drove in Hyeseong Kim, and Shohei Ohtani doubled in Freeland — and extended his career-best on-base streak to 51 games, moving past Willie Keeler into third place in Dodgers history.

Sasaki went 4-2/3 innings, threw 78 pitches and gave up three runs on seven hits, striking out two and walking two. His ERA after his fourth start: 6.11, worst in the six-man rotation.

The Dodgers fell behind 6-5 in the seventh when Treinen — who was cleared Friday after he was struck in the head by a batted ball during batting practice — gave up four consecutive hits, including a two-run home run by Mickey Moniak.

The result likely will be a minor detail when Ward tells the story years from now about getting the call after first baseman Freddie Freeman was placed on the paternity list.

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The Dodgers’ No. 19 prospect and reigning Pacific Coast League MVP spent the last seven years in the minors. Last season, he hit 36 home runs and drove in 122 runs with a .937 on-base-plus-slugging percentage for triple-A Oklahoma City, and he has a 1.020 OPS and four homers this year.

Ward made it a point to improve his chase rate, draw more walks and get on base more frequently, everything the Dodgers asked of him. He also passed the broadest patience test.

“The plate discipline, being a better hitter … he’s done all that,” Roberts said. “He’s improved his defense. But honestly, for me, just not to let his lack of opportunity in the big leagues deter him. That’s easy when you get frustrated and let it affect performance, and he hasn’t done that.”

If anything, Ward said, the waiting made him better.

“I used it to keep going. ‘OK, if I’m not there yet, what do I have to do to get there?’” he said. “‘What part of my game do I need to work on to keep getting better?’

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“I used it as fire to keep working.”

That will be the Dodgers’ assignment too.

In the finale of the four-game series Monday, the Dodgers are expected to start left-hander Justin Wrobleski (2-0, 2.12) against Colorado left-hander Jose Quintana (0-1, 5.63).

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ESPN’s Stephen A Smith hears boos from WrestleMania 42 crowd

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ESPN’s Stephen A Smith hears boos from WrestleMania 42 crowd

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Danhausen’s curse may be real after all – just ask Stephen A. Smith and the New York Mets.

While the latter dropped their 10th game in a row, Smith got his share of the curse on Saturday night during Night 1 of WrestleMania 42. Smith was in attendance for WWE’s premier event of the year and heard massive boos from the crowd.

Stephen A. Smith attends WrestleMania 42: Night 1 at Allegiant Stadium in Las Vegas, Nevada, on April 18, 2026. (Andrew Timms/WWE)

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Smith was sitting ringside to watch the action. The ESPN star appeared on the videoboard above the ring at Allegiant Stadium in Las Vegas. He appeared to embrace the reaction and smiled through it.

The boos came after Danhausen appeared on “First Take” on Friday – much to the chagrin of the sports pundit. Smith appeared perplexed by Danhausen’s appearance. Smith said he heard about Danhausen and called him a “bad luck charm.”

Danhausen said Smith had been “rude” to him and put the dreaded “curse” on the commentator.

WWE STAR DANHAUSEN SAYS METS ‘CURSE’ ISN’T EXACTLY LIFTED AS TEAM DROPS NINTH STRAIGHT GAME

Stephen A. Smith attends WrestleMania 42: Night 1 at Allegiant Stadium in Las Vegas, Nevada, on April 18, 2026. (Andrew Timms/WWE)

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Smith is far from the only one dealing with the effects of the “curse.”

Danhausen agreed to “un-curse” the Mets during their losing streak. However, he told Fox News Digital earlier this week that there was a reason why the curse’s removal didn’t take full effect.

“I did un-curse the Mets. But it didn’t work because, I believe it was Brian Gewirtz who did not pay Danhausen. He did not send me my money so it did not take full effect,” Danhausen said. “Once I have the money, perhaps it will actually work because right now it’s probably about a half of an un-cursing. It’s like a layaway situation.”

Danhausen enters the arena before his match against Kit Wilson during SmackDown at SAP Center in San Jose, Calif., on April 10, 2026. (Eakin Howard/Getty Images)

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On “Friday Night SmackDown,” WWE stars like The Miz and Kit Wilson were also targets of Danhausen’s curse.

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