West Ham and Sheffield United have reached an out-of-court settlement over the long-running Carlos Tevez saga.
The clubs released a joint statement which said the clubs "want to move on and focus on the business of playing football." The compensation figure has not been disclosed but reports range from a figure of £10m to £25m.
Tevez was instrumental in helping West Ham avoid relegation in 2006/07, scoring vital goals, not least against Manchester United on the last day of the season. His goal at Old Trafford sealed Sheffield United's relegation to the Championship.
Sheffield United argued Tevez was ineligible to play and an independent hearing ruled in favour of their claim for compensation from West Ham.
Today's announcement means the independent tribunal chaired by Lord Griffiths that was set up to rule on the controversy will not reconvene today.
The statement from Sheffield United chairman Kevin McCabe and West Ham chief executive Scott Duxbury said: "Both clubs are pleased to announce that a satisfactory settlement for compensation has been reached which brings the dispute between Sheffield United and West Ham to an end.
"The tribunal will not be resuming."
McCabe added: "We are happy and satisfied with the settlement with West Ham. Throughout the finalisation of the terms for the agreement, the discussions were friendly, co-operative and in the best of spirit with both the Blades and Hammers advisory teams.
"We are two clubs with a fantastic footballing history who now want to move on and focus on the business of playing football - hopefully for us against the Hammers in the Premier League next season.
"We look forward to a positive ongoing relationship with West Ham at all levels."
Duxbury said: "For everyone concerned, the time was right to draw a line under this whole episode. We have had very positive discussions over a number of days with Sheffield United and acknowledge their willingness to resolve this in the best interests of both clubs.
"This now allows us to concentrate on our immediate ambitions, which include a strong finish to the Premier League season and possible European qualification, without any negative impact on our long-term project. We wish Sheffield United well in their bid to secure promotion from the Championship."Reuse content