And I quote;
Premier League rules do not proscribe team name changes, although that may be addressed in the future but it is not allowed under FA regulations, which state: “A club competing in the Premier League (and other leagues) shall not be permitted to change its playing name without the prior written permission of the FA Council.”
In any event, it is understood that League chief executive Richard Scudamore would be fervently opposed to such a move by any of his member clubs.
A Premier League source said: “We just don’t believe it would be culturally acceptable in England. The value of the clubs comes from their heritage. It is highly unlikely that this could happen here.”
Proscribe means forbid, basically. 'Premier League rules do not forbid team name changes. A change needs prior written permission from the FA Council to do so. They said it is highly unlikely but that doesn't mean its impossible. Each case is independently assessed. If Tan puts forward a legitimate argument and takes finances into account then its likely they'll be all for it. Scudamore is one of many who will be making the decision just as a jury does so just because he opposes a move it does not mean it won't happen.
Seriously, are the FA going to let Tan change the name and keep pouring money into the club or are they going to risk him walking over the decision, us going into administration and further tarnishing the British game? Not to mention the TV deals that basically run football will make a killing from 2 Welsh derbies in the Prem. Football is a money game now and it would be in the FA's and Sky's best interests from a money point of view to grant Tan his wish.
Just wanted the correct info out there for all to see as some people think it can't happen for some reason. Scudamore may oppose it but he is only one voter and each case is heard before a decision is made. Its not forbidden or against any rules.