The Premier League will defy Manchester City and Aston Villa by going ahead with a vote on contentious associated party transaction (APT) rules on Friday.
The rules – aimed at preventing sister companies from propping up clubs through inflated deals – are set to be changed after a challenge brought by City resulted in aspects of them being found to be unlawful last month.
City and Villa have both called for the vote to be delayed but Premier League chief executive Richard Masters is believed to want to press on and will continue speaking to clubs to corral support in the next 48 hours.
The most significant change included in the proposals would see shareholder loans come under the remit of APT rules, meaning clubs would be forced to account for them at commercial interest rates even if they were offered more cheaply.
Villa send letter
In a letter to the Premier League, Villa said the top flight could be “weakened” if the debate continues to play out in public.
Villa added: “It is now abundantly clear that any vote (if passed) will result in immediate further litigation by Manchester City FC and an associated defence by the EPL [Premier League], incurring material further costs and unnecessary distraction and devotion of time to this issue.
“The imminent establishment of the Government’s new Independent Football Regulator (IFR) and its incorporation necessitates now more than ever that clubs within the Premier League present their cases to the existing regulator collectively as a united front, rather than each club presenting individually conflicting arguments.”
The Premier League is reported to have replied to Villa chiefs, agreeing that the process should remain confidential but reiterating its resolve to put the rule changes to a vote this week.
It comes as a hearing into more than 100 alleged breaches of financial rules by City, which could result in major sanctions including relegation if proven, continues.