Manchester City and the Premier League have reached a settlement over Associated Party Transaction (APT) Rules.

The two parties emphasised that City have now accepted that the current APT Rules are “valid and binding.”

The settlement ends a legal challenge between league and club after the Citizens launched a third case in February.

Though an outcome over the major financial case with City, which concerns more than 100 charges, is still to emerge, with no conclusion expected until at least next month.

A joint-statement from both Manchester City and the Premier League reads: “The Premier League and Manchester City FC have reached a settlement in relation to the arbitration commenced by the club earlier this year concerning the Premier League’s Associated Party Transaction (APT) Rules and as a result the parties have agreed to terminate the proceedings.

“This settlement brings an end to the dispute between the parties regarding the APT Rules. As part of the settlement, Manchester City accepts that the current APT Rules are valid and binding.

“It has been agreed that neither the Premier League nor the club will be making any further comment about the matter.”

Despite the neutral language naturally used in the same statements, insiders believe the fact that a lucrative new Etihad deal stands is a significant victory for City.

The club is not going to challenge the new rules, but the allowance of that deal is seen by some sources as “driving a coach and horses through the rules”.