Sunderland, England - West Ham United and Sheffield United released a joint statement on Monday confirming they have reached a settlement in the Carlos Tevez affair.

Sheffield United were relegated in 2007 and sought compensation from West Ham, who just avoided the drop and fielded the Argentina striker despite contravening the Premier League's rules on third-party ownership.

The statement from Sheffield United 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."

The fee agreed has not been disclosed, with estimates varying from 10 to 25 million pounds (14.2-35.5 million dollars).

Tevez left West Ham for champions Manchester United in 2007. (dpa)