Source: Daily_Mail
It's over! Hammers relief as Blades agree £25m settlement to end Carlos Tevez affair
West Ham and Sheffield United have reached an out-of-court settlement over the Carlos Tevez affair.
In a joint statement, the agreement was described as "satisfactory settlement for compensation" but the figure paid by the Hammers was not confirmed.
Sportsmail understands that the London club will pay United £25million in compensation - £10m up front and the rest in instalments over five years.
This payment plan now gives the Hammers hope of securing a buyer for the debt-ridden club.
TEVEZ AFFAIR TIMELINE
August 31, 2006: West Ham sign Carlos Tevez and his Argentina team-mate Javier Mascherano, whose contracts were previously held by Kia Joorabchian's MSI company.
January 31, 2007: Mascherano signs for Liverpool. March 2: West Ham are charged by the Premier League for breaching their rules in relation to the signings of Tevez and Mascherano.
April 4: A three-man panel is appointed by the Premier League to investigate the signings of Tevez and Mascherano.
April 27: West Ham are fined £5.5million but spared a points deduction after pleading guilty to breaking Premier League rules. The verdict also rules "the registration of Carlos Tevez can be terminated by the FA Premier League" but Tevez is later cleared to play on for the Hammers.
May 13: Tevez scores the winning goal in 1-0 victory over Manchester United which ensures West Ham avoid relegation.
May 15: FIFA say they will investigate Premier League ruling.
May 16: Sheffield United file "arbitration proceedings" against the Premier League in a bid to overturn the decision not to deduct points from West Ham.
May 22: The Premier League agree to set up an arbitration tribunal to rule on Sheffield United's complaints over the affair.
June 2: Premier League chairmen agree a new rule forcing clubs to disclose every document connected to player transfers to improve "clarity".
July 3: Sheffield United lose their legal challenge against the Premier League after an arbitration panel dismiss their claim over the Tevez affair.
July 4: The Blades investigate the possibility of a High Court appeal, on the basis that the arbitration panel made an "error in law" in not referring the Tevez case back to the original independent three-man panel which fined West Ham in May.
July 6: Tevez agrees personal terms with Manchester United. The deal is held up as the Premier League insist proceeds of the deal must go to West Ham and not to Joorabchian or MSI.
July 11: West Ham reject an official request from Tevez to cancel his contract with the club.
July 13: Following a private hearing at the High Court, Sheffield United's attempt to gain leave to appeal the arbitration panel's decision is refused.
July 18: Manchester United chief executive David Gill announces the club will ask FIFA to arbitrate on the Tevez transfer.
July 24: FIFA recommend case to be referred to the Court of Arbitration for Sport after deciding not to become involved. However, Joorabchian opts to issue High Court proceedings against West Ham.
August 1: Newspaper reports claim a document was produced in the High Court showing West Ham agreed to Tevez's third-party ownership after the Icelandic takeover, although the club question its authenticity.
August 3: West Ham confirm they have reached a £2million settlement with Carlos Tevez's representatives which will allow the Argentinian to leave the club for Manchester United.
August 10: Tevez is confirmed as a Manchester United player.
August 16: Sheffield United announce their intention to sue West Ham for cost of relegation from Premier League. West Ham describe the action as "desperate".
September 23, 2008: An independent arbitration hearing rules in favour of Sheffield United in their claim for compensation from West Ham.
January 8, 2009: The Premier League and the Football Association announce they will launch a fresh inquiry into the conduct of West Ham over the Tevez affair.
March 16: West Ham and Sheffield United agree an out-of-court settlement to end their dispute over Tevez.It means the independent tribunal chaired by Lord Griffiths to rule on the controversy will not reconvene today.
West Ham were facing financial ruin as the Yorkshire club originallydemanded compensation of £50m following their relegation from theBarclays Premier League in 2007.
The Tevez controversy began in 2006 when the Argentina international and his compatriot Javier Mascherano were signed by West Ham under third party ownership deals which contravened Premier League rules. It has sparked three separate inquiries, one of which led to a £5.5m fine - but not a points deduction - for the Hammers.
West Ham's debt already stood somewhere between £45mand £50m, and the £25m bond will now have to be taken intoconsideration by any buyer.
There is believed to be oneserious potential purchaser,but yesterday the price for buying the clubwas thought to be in the region of £100m, almost half what ownerBjorgolfur Gudmundsson would want.
United skipper Chris Morgan reacts as the Blades are relegated in 2007
The statement from Blades 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.
Duxbury added: "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.
Tevez (right) in action for Manchester United against Wigan's Titus Bramble
"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."
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."
