Milan Mandaric has revealed that he is "delighted" to have been found not guilty of two counts of tax evasion.
The Serbian, along with Tottenham Hotspur manager Harry Redknapp, had been accused of cheating the public revenue during their time at Portsmouth.
However, a jury at Southwark Crown Court cleared both men of all charges earlier today.
"I am delighted I have today been cleared of the totally unfounded allegations of tax evasion," Mandaric said in a statement.
"I never doubted the truth would prevail. I'm happy my good name and reputation has been upheld. I always believed in the truth.
"I also always believed in the British justice system."
Mandaric is currently chairman of Sheffield Wednesday.
