From Wasps Chief Executive Nick Eastwood on groundshare talks with Coventry City FC:
“This process has been as frustrating for us, as it has been desperately sad for Coventry City supporters, and as damaging as it is to the city as a whole.
“As everyone is aware, we made it a pre-requisite of talks that the owners would stop pursuing proceedings around the ownership of the Ricoh Arena. We understood the owners shared that desire based on the letter it sent to us.
“Talks began in April and we entered those discussions in good faith. Since then we have been working to get that deal over the line and we did not halt discussions even when it emerged that the owners had filed a complaint to the European Commission as far back as February but not informed us of that.
“Despite significant progress being made in the discussions, we have unfortunately been unable to reach an agreement with the owners which, putting aside the complaint to the European Commission, would deliver the fundamental principle that there would be no further proceedings about the ownership of the Ricoh Arena.
“We have talked to Coventry City supporters groups to underline our position and our desire to keep the club at Ricoh Arena. We would be prepared to continue discussions at any time if the owners are prepared to agree to the principle on which we began these discussions.
“The club wanted to stay at Ricoh Arena, we wanted them to remain here and all supporters’ groups wanted to secure their future here. This is a very sad day for Coventry.”