The long-running dispute over the sale of the Coventry Building Society Arena has ended.

The European Commission has closed the case into the sale of the ground to Wasps in 2014 and Coventry’s owners have ended all proceedings relating to the sale of the stadium.

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

The dispute between the club’s owners and Coventry City Council has been ongoing for years but talks involving the owners and the University of Warwick – owner of the land upon which the Sky Blues hope to build a new stadium – have brought it to a close.

Coventry owner Joy Seppala said: “Following discussions with the University of Warwick, we are now able to end all proceedings relating to the sale of the Coventry Building Society Arena.

“As we move forward with our vision, we want to draw a clear line under the past and continue to build new and strong relationships with all our partners, including Coventry City Council.

“We can now move forward to achieve this, and together, deliver a football club of which the city of Coventry can continue to be proud.”