Score draw between City and the Premier League. But the game is the loser.

The ramifications of the tribunal ruling into Associated Party Transactions are far more nuanced than many headlines make out. It is important to peer past the inevitable spinning by Manchester City and the Premier League, both sides claiming victory. City won on some significant points but the Premier League’s APT rules were found to be lawful and can continue, albeit with some tweaking. The one guaranteed loser is the game with the Premier League more divided than ever, with more funds diverted to lawyers and with more legal challenges weakening the league.

The Premier League has called a meeting for next week to discuss the rules. If all clubs can agree on how the rule-book is updated, some unity can be restored. If. City may feel emboldened to continue challenging on this issue, especially as they have the 115 charges over alleged breaches of financial rules ongoing.

Even though they are totally separate issues, every little legal success City have against the Premier League strengthens their overall case in challenging the league, its governance and its competence.

City’s biggest win from the tribunal would be if it leads to some clubs deciding that fighting City in court is a costly losing battle. It’s the optics from yesterday’s tribunal ruling that could make some clubs think the Premier League just can’t win. Could they ask the Premier League “to back off in the 115 case”? That’s the view of one club executive of many years’ experience. The case is  already underway and it would be an utter humiliation for the league. It would be a farce if stopped now.

To borrow footballing parlance, the Premier League has to take each case as it comes, and it now has to deal with the fall-out from this tribunal. APTs are effectively about whether clubs can inflate sponsorship deals with companies connected to the owners.