The former owner of Wycombe Wanderers and Wasps says he has lost millions after being dogged for nearly four years with computer hacking allegations, which were dropped this week.

Millionaire businessman Steve Hayes blasted the “scandalous” actions of police and prosecutors as he was cleared of any wrongdoing after his arrest during a dawn raid in February 2012.

Mr Hayes, who sold both clubs in 2012, said suspicions “hanging over his head” meant he could not command anywhere near as large a price as he could have during the Wasps sale.

The Crown Prosecution service told Mr Hayes this week that he would not face any further action as part of Operation Kalmyk, a Metropolitan Police hacking probe that saw the arrest of 15 people.

And the tycoon thanked figures at Wanderers for sticking by him during what he called a “ridiculous” wait to be declared innocent, after his identity was revealed following the arrest.

He told the BFP: “The important thing for Wycombe Wanderers supporters to know, they can all have their opinions, but in business and everything you do the most important thing you have is your reputation.

“Something like this happens and I understand the police have to do their job but over three years is ridiculous. It’s scandalous.

“It’s been hard, especially [with money], I could have held out and waited [before selling Wasps] but with something like this hanging over you it affects relationships, your family, and you have to try and get on with your life.

"I knew it would be ok but I did not expect to take this long. There have been lots of people who have stood by me, like Ivor Beeks, and some that haven’t.

“The thing that really hurts is that not everyone [arrested] was named, but I was because of Wasps.

“It is a relief, but it is ridiculous. Imagine if that happened to you, and how hard you could find it to get a job.”

In 2012, Wycombe Wanderers Trust bought the club from Mr Hayes after he took full control in 2009.

In the same year he parted with rugby club Wasps, which was then based at Adams Park before its recent move to Coventry.

Mr Hayes, who made his fortune through the website loans.co.uk, said he has had to turn down non executive and charitable positions because of the “slur” against his name over the past four years.

After “keeping his head down” since the arrest, the businessman from Chorleywood said he will now push ahead with business plans he has been building during the ordeal.

The CPS said 15 people have been informed that there will be no further action taken as a result of the operation, which was an offshoot of the News of the World phone hacking investigation.

All allegations under section 1 of the Computer Misuse Act have been abandoned after what the CPS called a “complex investigation”.

However, the service admitted it could not have taken action over the alleged offences from 2005 to 2007 because of the time limit for prosecutions under the act.

Instead, the four-year investigation looked to find enough evidence in relation to other offences, which in the case of Mr Hayes and others, it failed to do.

Gregor McGill, senior lawyer at the CPS said: ”The CPS received a full file of evidence from the Metropolitan Police’s Operation Kalmyk investigation team in March 2015, after a complex investigation.

“Having carefully reviewed the evidence in accordance with the Code for Crown Prosecutors, the CPS has concluded that no further action can be taken against any of the suspects involved.

“Any decision by the CPS does not imply any finding concerning guilt or criminal conduct; the CPS makes decisions only according to the test set out in the Code for Crown Prosecutors and it is applied in all decisions on whether or not to prosecute.

“Contact has been made with all relevant parties to inform them of the outcome of this case.”