Manchester City have claimed victory over the Premier League regarding APT, with two aspects deemed as unlawful. APT rules ensure that sponsorship deals with companies linked to clubs' owners represent fair market value.
"There have been many club conversations over recent days, with constructive and informative feedback provided," Masters wrote.
"We now have a comprehensive set of information and data which is helping to inform our recommended approach and rule amendment drafting.
"We are taking the necessary time to develop our proposals and the associated draft rule amendments for club consideration. We will circulate these to clubs when fully considered and ready, which may impact on the scheduling of our planned meetings with Financial Controls and Legal Advisory Groups, and all clubs next week."