The Premier League has reportedly called an emergency meeting with all 20 clubs to discuss potential changes to its rules following the outcome of Manchester City's tribunal.

The club's lawyers successfully argued that interest-free loans from shareholders to clubs should be included in Associated Party Transaction (APT) regulations, putting several clubs at risk of breaching Profit and Sustainability Rules.

Arsenal, who have reportedly taken about PS200m in shareholder loans to boost transfer market spending, could now facing potential consequences. It was also ruled that City were unfairly prevented from agreeing two major sponsorship deals earlier this year.

The reigning English champions are now seemingly free to negotiate significantly higher sponsorship agreements with associated parties, and could be among several clubs seeking compensation and costs from the Premier League. Top-flight bosses are now urgently trying to arrange a meeting with all 20 clubs next week to discuss the extent of necessary rule and regulation changes following the sponsorship judgement.

An independent panel partially dismissed City's claims about blocked sponsorship deals, discarding the argument that the Premier League had shown "discrimination against Gulf ownership," and upheld the concept of ATP regulations. In a bold statement following the decision, the league celebrated its triumph, vowing that any minor issues identified could be "quickly and effectively be remedied," by member clubs.

"The Premier League welcomes the Tribunal's findings, which endorsed the overall objectives, framework and decision-making of the APT system," they stated. "The Tribunal upheld the need for the APT system as a whole and rejected the majority of Manchester City's challenges. Moreover, the Tribunal found that the rules are necessary in order for the League's financial controls to be effective.", reports the Express.

"The Tribunal did, however, identify a small number of discrete elements of the rules which do not, in their current form, comply with competition and public law requirements. These elements can quickly and effectively be remedied by the League and clubs."

During the proceedings, Chelsea, Newcastle United, Nottingham Forest and Everton supported Man City's case while Brighton, West Ham, Manchester United, Liverpool, Tottenham and Arsenal testified on behalf of the Premier League.

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