In its concluding remarks the panel stated: "The three respects in which the APT rules and amended APT rules were unlawful cannot be severed with the result that the APT rules as a whole are void and unenforceable.".
The Premier League said in a statement: "The tribunal's decision has found that the three narrow aspects of the old APT rules, previously found to be unlawful, cannot be separated from the rest of the previous rules as a matter of law.
"However, the previous APT rules are no longer in place, as clubs voted new APT rules into force in November 2024.
The key amendments made to the league rules in November were the inclusion of shareholder loans, the introduction of the right for clubs to access databank information - used by the Premier League board to make a fair market assessment - at an earlier stage and the rolling back of the February 2024 amendments.
Fighting City's challenge to the rules has come at significant cost to the Premier League and its clubs, with the legal bill for the APT case alone likely to be in the tens of millions of pounds.
