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When is the Premier League meeting? Everton and Liverpool set for crunch talks

Premier League clubs will meet today for the first time since details of Manchester City's legal action first emerged.

City are deeply unhappy with the Premier League over their Associated Party Transaction (ATP) rules, which they have described as "unlawful and uncompetitive".

Under existing APT rules, any commercial revenue that a club receives from a company with a connection to the club's owners must be independently assessed to be of "a fair market value". The rules are in place to stop rich owners from sidestepping existing Profitability and Sustainability Rules (PSR) by falsely inflating a club's income.

READ MORE: Man City launch shock Premier League legal case that could impact Liverpool and Everton

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Should City be successful in their legal threat, this could have a major say on what happens regarding their outstanding 115 financial charges that are due to be heard at a court hearing this autumn.

Between 10 and 12 top-flight clubs are believed to be in favour of supporting the Premier League over ATP guidelines and opposing the Sky Blues' stance, which is therefore likely to create a rather tense atmosphere during the meeting.

But City's drastic action is not likely to be on the agenda during this particular AGM, according to reports, with a focus instead being placed on the future of VAR and new financial rules.

Premier League clubs last month voted in principle to introduce a new spending cap from the 2025/26 season, following a season full of Profit and Sustainability-related issues. Everton were at the heart of this after being deducted ten points by the Premier League in November for breaching profit and sustainability rules by £19.5million for the period of 2021/22, which was reduced to six points following a successful appeal. A further two-point deduction was made for a second breach of PSR rules.

The new approach, referred to as 'anchoring', is anticipated to pass with no problem given only three clubs (Manchester United, Manchester City and Aston Villa) rejected the format, which is set to replace the current Profit and Sustainability regulations.

The big change will see clubs in Europe restricted to spending a maximum of 70 per cent of their total revenue on their squad and can spend only a maximum of the multiple earned by the bottom club in TV revenue. It is believed the anchoring multiple will be set at 4.5.

Based on figures for last season, bottom-ranked Southampton earned £103.6m. This would mean £466m would be what sides are permitted to spend on wages, amortised transfer fees and agent fees - based on this example