Harry Redknapp and Milan Mandaric have both been cleared of all charges brought against them over tax evasion.
After a 13-day court case, the Tottenham Hotspur manager and Sheffield Wednesday owner were both found not guilty of all charges by a jury at Southwark Crown Court, who took two days to consider the evidence.
Redknapp had always denied receiving £189,000 in untaxed bonus payments from Mandaric whilst in charge of Portsmouth, with both insisting that the money paid into the offshore Monaco bank account was a gesture of friendship.
The jurors rejected claims from the prosecution that the payments were in relation to the sale of Peter Crouch and victory over Manchester United.
Redknapp and Mandaric hugged at the verdict, whilst the press are also now free to report that the former Leicester City owner was cleared of a £600,000 tax evasion at a previous trial alongside former Portsmouth chief executive Peter Storrie.
For Redknapp, it means the Spurs boss is still in the running to replace Fabio Capello as England manager after Euro 2012, whilst his immediate concerns will be on Tottenham Hotspur's challenge for the title after missing Monday's 0-0 draw against Liverpool.