Hammers confirm Tevez settlement
Magnusson's West Ham have finally given up their interest in Tevez
Friday, 03, Aug 2007 04:09
West Ham United have confirmed they have reached a settlement with Kia Joorabchian over the ownership of Carlos Tevez's registration.
The news means the Argentinean international is now free to join Manchester United, ending the longest-running transfer saga of the summer.
The out-of-court agreement will see the Hammers paid a £2 million fee and in exchange the club will release Tevez's registration in order for him to be transferred on a two-year loan deal to Old Trafford.
A statement on the West Ham website confirmed that the settlement also brings to an end the litigation filed by Media Sports Investments (MSI) owner Joorabchian in the high court.
The Iranian businessman had sought compensation over West Ham's claims that they had torn up the original contract between the parties after the initial Tevez deal brought criticism from various quarters.
A Premier League disciplinary panel fined West Ham £5.5 million for indiscretions in their handling of the affair – an outcome that brought its own problems when relegated side Sheffield United accused the league organisers of showing undue leniency by not docking points from the Upton Park outfit.
After an appeal, Sheffield United finally dropped their case for reinstatement to the top-flight, in which they claimed West Ham's decision to keep playing Tevez until the end of the season contravened the terms of the disciplinary hearing.
The Blades are reportedly keeping a close eye on the proceedings surrounding Tevez's move to join Sir Alex Ferguson's squad.
In a bid to avoid any further controversy the Hammers' statement also said that "the terms of the settlement are consistent with undertakings given by West Ham United to the Premier League and the rules of the Football Association".
A statement from the Premier League confirmed they had ratified the deal and the player would join Manchester United.
"The decision of the board, having received leading counsel's opinion, is that the agreement reached is compliant with the rules of the Premier League and consistent with the undertakings given by West Ham United to the Premier League board at various times since April 27th 2007," the statement read.
"This will lead to the cancellation of Tevez's registration, thereby releasing him to join another club in due course."
Commenting on today's announcement, West Ham United chairman Eggert Magnusson said: "I am obviously pleased that we have finally reached the end of this saga through agreement and common sense.
"All parties involved can now move on and truly focus on the new season.
"I wish Carlos Tevez well for the next stage of his playing career. He is a fine player and I am sure he will be successful wherever he plays football.
"Personally, I am looking forward to the next stage of our development as a club and for what I hope will be a very exciting new season in the Premier League."