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Mr Tribick said: “This is an offer that has been made and that offer has been accepted. It will allow him to try and rebuild his life and to have some sort of normal existence.

“But of course what he really wanted was an apology from the Metropolitan Police and I think he has accepted that is something he will never get.

“He is not angry, he is hurt and disappointed. He is gradually getting his life back on track and this will act as a catalyst.”

Mr Tribick added: “Colin is realistic enough to realise and accept that his name, no matter what happens, will always be synonymous with the tragic events of Rachel Nickell’s death.

“In some people’s eyes he will always be the bloke who got away with murder.”

The 16-year wait

July 1992: Rachel Nickell stabbed 49 times on Wimbledon Common

August 1993: Colin Stagg charged with murder

September 1994: Mr Stagg cleared: days later a review of the police work on the murder case is announced

November 1996: Mr Stagg passes a TV lie detector test

July 1997: Police announce they are scaling down the inquiry after £3 million costs and 32 suspects

April 1998: Police look at possible links between Ms Nickell’s murder and three other killings

September 2004: Media reports of new DNA evidence in the case

June 2006: Scotland Yard confirms it is questioning a 40-year-old man

January 2007: Home Office confirms that Mr Stagg will receive a compensation payout

November 2007: CPS authorises police to charge Robert Napper

August 2008: Mr Stagg is told that he will be awarded £706,000.

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