Harry Redknapp welcomed the final whistle on his bung slur "nightmare" on Wednesday after he was acquitted for tax fraud.
Bookmakers slashed odds on Redknapp becoming the next England manager as he walked free from court with a five-year police inquiry in tatters.
The Tottenham boss said the case should never have reached trial after jurors accepted his angry denials of tax dodging on £189,000 in a Monaco account.
His acquittal alongside co-defendant Milan Mandaric marks the end of an £8million investigation which failed to yield a single conviction.
Mandaric and former Portsmouth chief executive Peter Storrie were also cleared of £600,000 tax dodge charges at a previous trial, it can now be reported.
Outside London's Southwark Crown Court, a tired-looking Redknapp, flanked by son Jamie, said: "It really has been a nightmare, I've got to be honest.
"It's been five years and this is a case that should never have come to court because it's unbelievable really.
"It was horrendous, you know, but it was a unanimous decision. The jury were absolutely unanimous that there was no case to answer."
Redknapp is now 10/11 with one betting firm to take over from Fabio Capello, who was in crisis talks with the Football Association in a bid to iron out a row over the decision to strip John Terry of the England captaincy.
Redknapp nodded to the jury before hugging Mandaric as the jury found them not guilty on on all counts.
Former Liverpool and Spurs midfielder Jamie, who stood by his father throughout the trial, said: "Just glad it is all over."
Mandaric told reporters: "I've got to go somewhere to try to pinch myself and wake me up from that horrible dream that I had in the past.
"As we said in the statements, I always believed in the truth, and always believed in the British justice system."
Redknapp was at times moved to the verge of tears in court as the Crown alleged he told a pack of lies to get off the hook.
But jurors accepted Redknapp and Mandaric's evidence that the Monaco account in the name of Redknapp's dog, Rosie, was nothing to do with footballing matters at Portsmouth.
Redknapp admitted lying to News of the World reporter Rob Beasley about the account being a bonus for the £3million profit made by the club for the sale of England striker Peter Crouch.
But Redknapp and Mandaric said in court that the money was an investment not liable to tax.
The verdicts mark the end of an exhaustive inquiry into football corruption by the tax authorities and City of London Police.
The case served up high courtroom drama over two and a half weeks at London's Southwark Crown Court.
In an impassioned display in the witness box, Redknapp accused Detective Inspector Dave Manley of "staring" and shouted at prosecutor John Black QC: "You think I put my hand on the Bible and told lies? That's an insult, Mr Black, that's an insult."
Redknapp said he was "a fantastic football manager, not a hard-headed businessman" and had always paid too much tax.
He also revealed that he had squandered millions in bad investments and had the writing ability of a two-year-old.
Serbian Mandaric, an entrepreneur behind a multibillion-dollar business empire, claimed he had paid £100million in taxes during his time in football, adding: "Did I suddenly go crazy?"
Mandaric and Redknapp embraced in the dock as the verdicts were read out after five hours of deliberations.
Redknapp immediately left the court, while Mandaric walked up to DI Manley to shake his hand and say "Thank you".
DI Manley said he accepted the court's decision as he left court this morning while Chris Martin, of HM Revenue and Customs, said "we have no regrets about pursuing this case".
In a statement, he added: "We accept the verdict of the jury but I would like to remind those who are evading tax by using offshore tax havens that it always makes sense to come forward and talk to us before we come to talk to you."
A Tottenham spokesman said: "Everyone at the club is delighted for Harry and his family.
"This has been hanging over him for over four years and the last two weeks have been particularly difficult."
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