Arena Coventry Limited have announced that they are not proceeding with their legal action against Northampton Town FC.
ACL were claiming that basically Northampton Town were stealing their 'customer' in Coventry City FC and its supporters by agreeing to stage matches at the Sixfields Stadium.
However, tonight, Arena Coventry Limited have issued the following statement:
"We still believe our action against Northampton Town Football Club has strong legal merit.
"In light, however, of the Football League's decision to award the Golden Share to Otium Entertainment and the recent public statement made by Joy Seppala, it has become clear that even successful legal action will not bring the Club home from Northampton.
"We await Otium's best offer to return but to date we have heard nothing from them.
"Our focus remains on running our successful business."
Source: Coventry MAD