Manchester City were among the four clubs who opposed the new Premier League rules

Manchester City and the Premier League have reached a settlement in their dispute over the rules that govern commercial deals.

City have accepted the rules governing associated party transactions (APT) are valid and binding.

The club had mounted a legal challenge against the Premier League, claiming new rules were "unlawful".

"Neither the Premier League nor the club will be making any further comment about the matter," a joint statement said.