Coventry had argued the city council had undervalued the ground by £27m.

But the EU Commission closed the case ending the near decade-long dispute.

And after talks with the University of Warwick - owners of the land the Sky Blues hope to build a new stadium on - the club have officially put an end to their pursuit against the deal to sell the CBS Stadium.

Joy Seppala, from Sisu, said

the club wanted to "draw a clear line under the past" and move forward and build "new and strong relationships with all our partners, including Coventry City Council".

When Wasps bought the stadium - then known as the Ricoh Arena - off the council in a deal worth around £20m following their relocation to the Midlands from High Wycombe, Sisu claimed it was in breach of EU state aid law.

However, their hope that the European courts would agree with them were dashed with the ruling that the council acted appropriately when it and the Alan Edward Higgs Charity sold their 50% stakes in the stadium to Wasps.

The deal saw Wasps take on a council loan of just over £14m.

Coventry agreed a 10-year deal with Wasps to play at the CBS Stadium from the start of the 2021-22 season.

Coventry City Council also welcomed the news saying in a statement that the ending of the legal dispute "marked the start of a new chapter".

"I think we were always confident that our actions were legitimate as confirmed through a number of court cases including before the High Court and court of appeal," leader of the council, Cllr George Duggins, added.

"But now is not a time to look backwards. We have always said that our aim as a council has been to have a successful Sky Blues side playing in its home city in front of its faithful supporters, with everyone working together to achieve success.

"It is what the team deserves and what the fans deserve."

Nearly 10 years of turmoil

It has been a long and bitter road for Coventry City and their long-suffering fans, who have seen their club feel insecure over their identity ever since Highfield Road - their home of 106 years - was sold in 2005.

Their move into the Ricoh Arena became dominated by a row over rent which saw the club spend a season away from the city in Northampton in 2013-14.

They returned the following season and stayed for the next four full seasons.

But Sisu could not reach an agreement with the stadium's new owners Wasps to play there in the 2019-20 campaign, which led to the club ground sharing with West Midlands neighbours Birmingham City for two seasons.

Their 10-year agreement with Wasps - leading to their third stint at the ground - at least gives the Sky Blues some much-needed security and continuity, with the long-term plan still to build a new stadium on the south-west edge of the city, on a site owned by the University of Warwick.

"I'm delighted that Coventry City FC have now sought to end all proceedings and together we can move forward together towards an exciting future," Stuart Croft, vice chancellor of the university, said.

"The University of Warwick is proud to be able to support our city's football club.

"Not only will this benefit the club and its fans, but the wider benefits to the city will be significant."