Sheffield United insist their fight for justice over the Carlos Tevez affair is far from over.

The Blades lost the latest round to the Premier League yesterday after the High Court rejected their bid to force new disciplinary action against West Ham.

But the south Yorkshire club, whose relegation on the final day of the season cost an estimated £50million, are threatening to pursue action for compensation.

Club solicitor Paul Stothard said: "Sheffield United are not precluded from taking further action whether against the Premier League or West Ham.

"We have a long agenda of things we can do with regard to this - we are still on the first page. I think you can be fairly confident that things won't rest there.

"If we cannot get reinstated then compensation would be top of the agenda because there are very significant consequences financially for being relegated from the Premier League wrongfully, as we believe we have been."

A private hearing denied Sheffield United permission to appeal against the decision not to dock West Ham points for breaking regulations over the signings of Tevez and Javier Mascherano.

It was an expected but nonetheless significant victory for the Premier League, who have maintained throughout the saga that they followed all the correct processes in bringing the Hammers to book.

The Blades have now accepted their bid to overturn the original tribunal decision - which fined West Ham £5.5million but did not deduct points - is over.

Sources close to West Ham do not believe any legal avenues remain open to Sheffield United.

The other consequence of the High Court verdict is that Tevez's future is now closer to being settled.

The 23-year-old striker is the subject of a transfer bid from Manchester United but the deal has been held up by a row over the player's ownership.

Tevez's adviser Kia Joorabchian claims he owns the player's economic rights, while West Ham insist the striker is contracted and registered with them.

The Premier League have demanded the Hammers must receive the bulk of the £30million-plus transfer fee if they are to sanction the move.

West Ham, Manchester United and Joorabchian all agree yesterday's verdict makes a deal more likely but the key question is how?

The Hammers maintain any suggestion Tevez is definitely heading to Old Trafford next week are premature.

A club spokesman said: "This is the end of an important chapter in this whole affair. It gives further legal certainty to the situation.

"Everybody wants to find a sensible solution in relation to the future of Carlos Tevez. There is more optimism in the air."

But West Ham stopped short of explaining quite how they expected an agreement might be reached. It could be the saga will have to return to the courts.

From Joorabchian's point of view, Tevez is expected at Old Trafford on Wednesday for a medical with a view to a transfer being agreed next week.

Manchester United manager Sir Alex Ferguson last night expressed his confidence that the champions had secured a deal for Tevez.

And Joorabchian issued a statement indicating his confidence the "administrative issues" would be settled "in the coming days".

Joorabchian had other pressing matters to deal with yesterday after it emerged an international arrest warrant had been issued by a Brazilian judge over allegations of money laundering.

The warrant relates to an investigation surrounding Brazilian club Corinthians, of which Joorabchian's company MSI is a major investor.

They bought a 10-year lease in 2004 but Joorabchian insists all his financial dealings were cleared by the Brazilian Central Bank.

In a statement released to PA Sport, he said: "I deny any wrongdoing whatsoever. I have co-operated fully with the authorities in Brazil and have previously offered to speak to them directly, an offer that they have not taken up."