The statement reads: "The BPSA is disappointed to announce that the parties have been unable to resolve their differences.
The BPSA can confirm an offer has been made to both Coventry & Peterborough, which if accepted would see them both resuming their membership of the Elite League with immediate effect. That offer remains open.
The BPSA very much hopes, that even at this late stage, Coventry & Peterborough will choose to resume their membership of the Elite League, and contribute towards a successful 2011 season.
The BPSA would like to make it clear that they would welcome both Coventry and Peterborough's resumption of their membership of the Elite League in time for the 2011 season; the absence of both Coventry and Peterborough from the Elite League is their own choice.
The BPSA regrets that Coventry & Peterborough have not been prepared to accept relatively minor improvements to the BPSA's rules supported by the overwhelming majority of BPSA members but have chosen to maintain
their threat of costly legal court proceedings that can only damage the sport, its fans and the riders."