Premier League clubs have agreed to new rules regarding commercial activities known as Associated Party Transactions.
The measures, essentially aimed at richer clubs who make sponsorship deals with companies that have ownership links to them, were voted through at Friday's Premier League shareholders’ meeting in central London.
The motion was carried despite the threat of legal action against the Premier League from an unnamed club – reported to be Manchester City – over the rule changes.
A Premier League statement read: "Following a full review of the existing Associated Party Transactions Rules and Fair Market Value assessment protocols, clubs agreed to a series of amendments to further enhance the efficiency and accuracy of the system."
It is understood the vote was not unanimous. City, owned by Abu Dhabi royal Sheikh Mansour and whose stadium and shirt are sponsored by the national airline of the UAE, have previously expressed their opposition to the rule changes.
Newcastle, majority-owned by Saudi Arabia’s Public Investment Fund, would also be affected.
Premier League clubs voted narrowly against a motion for more stringent rules at the previous shareholders’ meeting in November.
Discussions also continued with the 20 top-flight clubs over a financial redistribution package, the so-called 'new deal’, to provide extra funding for the EFL.
It is understood no formal offer has been finalised, but that a deal is edging closer.
The statement continued: "The Premier League and its clubs met over the past two days and held productive discussions in relation to a number of matters.
"This included plans to move towards a new financial settlement with the EFL and to agree a long-term deal for the good of English football.
"A desire to seek a resolution on remaining issues was reiterated in the meetings, including a commitment to a process and timeline, with the continuation of discussions between the leagues.
"A number of Premier League clubs also held a productive meeting with EFL clubs this week to discuss these matters.
"To build on this momentum, conversations between clubs from the two leagues will now continue over the coming weeks."
Talks are also ongoing over a new financial system for the top flight, and the introduction of a model along similar lines to UEFA’s squad cost ratio.
That would mean, by 2025-26, the spending of clubs involved in European competitions on wages, transfer fees and agent costs would be capped at 70 per cent of revenue.
"A good working session was also held on the design and implementation of a new financial system for the Premier League," added the statement.
