The parties involved in the Wembley Stadium project today announced that they have agreed a comprehensive settlement of all outstanding disputes.

The agreement follows successful talks chaired by Lord Carter between The FA, Wembley National Stadium Limited (WNSL) and the constructors Multiplex.

This agreement will avoid a lengthy and expensive legal dispute and all parties are committed to working together to ensure that the stadium opens for business as early as possible in 2007.

Multiplex Chief Executive Andrew Roberts said: "We are very pleased to have reached agreement with WNSL and The FA to put our past differences behind us and put all our joint efforts into completing Wembley Stadium at the earliest opportunity."

The FA Chief Executive Brian Barwick said: "This agreement secures the process of getting the new Wembley Stadium up, running and open to the public. We look forward to staging major events at the stadium next year and consider this agreement with Multiplex to represent the beginning of the end of the construction phase. Everyone's target is now to complete what will be the finest stadium in the world."

WNSL Chief Executive Michael Cunnah said: "This is very welcome news for everyone involved with the stadium. This project was founded on the shared desire of WNSL and Multiplex to create a truly special stadium and it is very appropriate that we should enter the final stages of the project working together to get the stadium operational. Multiplex played an intrinsic part in getting this stadium project up off the ground and I am delighted to be working together to achieve our original vision."