The Premier League have reportedly invited all 20 clubs to an emergency meeting to discuss needing to change its rules following the outcome of Manchester City's tribunal.

A number of City's complaints were upheld, most critically in relation to Associated Party Transaction (APT).

The club's lawyers successfully argued that interest-free loans from shareholders to clubs needed to be included in APT regulations, leaving a number of clubs now in danger of breaching Profit and Sustainability Rules.

Arsenal are one club now set to face ramifications. They are said to have taken about £200m in shareholder loans to boost transfer market spending, and now face the prospect of having to quickly balance their books.

It was also ruled that City were unfairly blocked from agreeing two huge sponsorship deals earlier this year. The English champions are now seemingly free to strike significantly higher sponsorship agreements with associated parties, and are one of a number of clubs who could now pursue compensation and costs from the Premier League.

Now, top-flight bosses are trying to urgently arrange a meeting with all 20 of its clubs present next week. They're expected to discuss the extent to which it will need to change rules and regulations as a consequence of the sponsorship judgment.

The three-man independent panel did dismiss some aspects of City’s claims with regard to the blocked sponsorship deals. Arguments that the Premier League were guilty of "discrimination against Gulf ownership," were rejected, and the overall concept of ATP regulations was backed by the panel.

In a subsequent statement, the league appeared defiant, claiming victory in the case and saying that any alterations needed could be "quickly and effectively be remedied," by its clubs. "The Premier League welcomes the Tribunal’s findings, which endorsed the overall objectives, framework and decision-making of the APT system," they said.

"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.

"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 hearing, Chelsea, Newcastle United, Nottingham Forest and Everton all acted as witnesses for Man City. On the contrary, Brighton, West Ham, Manchester United, Liverpool, Tottenham and Arsenal all were witnesses for the Premier League.