Former England cricket captain Michael Vaughan has been cleared "on the balance of probabilities" of using racist language towards ex-Yorkshire team-mate Azeem Rafiq.
Vaughan was accused of saying "there's too many of you lot, we need to have a word about that" to Rafiq and three other Asian players representing Yorkshire in 2009.
The Cricket Discipline Commission (CDC)external-link panel found the England and Wales Cricket Board's case against Vaughan, 48, was not proved.
The panel said it was "not satisfied on the balance of probabilities" that the words were said by Vaughan "at the time and in the specific circumstances alleged".
It added its findings "do not in any way undermine the wider assertions" made by Rafiq, who said English cricket is "institutionally racist".
In its concluding remarks, the panel said: "This is not a case which necessitated a conclusion from the panel that anyone has lied or acted out of malice.
"Far from it, the panel had to consider whether the case as presented to it by the ECB, in light of all the evidence, was sufficiently accurate and reliable, on the balance of probabilities, to rule out mistake. It was not."
Rafiq alleged Vaughan made the comment to him, Adil Rashid, Rana Naved-ul-Hasan and Ajmal Shahzad before a match against Nottinghamshire at Trent Bridge on 22 June 2009.
BBC pundit Vaughan - in a statement posted on social media before the ruling was officially released - said: "It has been both difficult and upsetting to hear about the painful experiences which Azeem has described over the past three years.
"The outcome of these CDC proceedings must not be allowed to detract from the core message that there can be no place for racism in the game of cricket, or in society generally."
He added: "I have never wanted to do anything that runs contrary to genuine efforts to clean up the game of cricket. I truly hope people can understand why, on a personal level, I could not just accept, or apologise for, something which I know I did not do.
"At times, this process has brought me to the brink of falling out of love with cricket. I won't address here the toll that it has taken on me and my family, but I have no doubt that it has also been incredibly stressful for all of the others concerned. I hope that for them and for cricket, an inclusive healing process can now begin."
Vaughan was charged, along with Yorkshire County Cricket Club and six other former players, in June 2022 following a nine-month ECB investigation.
The 2005 Ashes-winning captain, who led England in 51 Test matches between 2003 and 2008, was the only respondent to appear at the CDC hearing at the International Arbitration Centre in London from 1-9 March.
The CDC panel, chaired by Tim O'Gorman, upheld some of the charges against former Yorkshire players Tim Bresnan, Matthew Hoggard, Andrew Gale, Richard Pyrah and John Blain, who all withdrew from the process.
Yorkshire and former England batter Gary Ballance previously admitted the charges against them.
Background to the Vaughan case
Former Yorkshire bowler Rafiq first made claims of historical racism at Headingley in August 2020 and in a Wisden article that month claimed a team-mate had made the alleged comment, but did not name Vaughan.
An independent investigation commissioned by Yorkshire upheld seven of Rafiq's 43 claims in September 2021, but the full report has never been published and the club said no player, employee or executive would face disciplinary action as a result of its findings, sparking widespread criticism.
The ECB began its own investigation in October 2021 and the following month Yorkshire were temporarily stripped of the right to host international matches, chairman Roger Hutton and chief executive Mark Arthur resigned, and several sponsors ended their partnerships with the club.
Vaughan revealed he was named in the report in November 2021 and denied the allegation.
Later that month - in an emotional testimony before a Digital, Culture, Media and Sport select committee in which he called English cricket "institutionally racist" - Rafiq said of Vaughan: "It's important on Michael that we don't make it all about Michael."
Giving evidence at the CDC hearing, Vaughan was critical of the ECB investigation, calling it "a terrible look for cricket" and said he "knows" he did not make the alleged comment because he was "proud" of it being the first time four Asian players had been in the same Yorkshire side.
He also denied having heard racial slurs while at Yorkshire.
Vaughan did apologise for sending "disgusting" historical tweets which were first brought to his attention in a 2021 BBC interview. ECB lawyer Jane Mulcahy KC argued the tweets showed it was "inherently probable" Vaughan made the alleged comment.
Vaughan's lawyer Christopher Stoner KC drew attention to discrepancies in Rafiq's evidence, including Rafiq telling the initial investigation that Vaughan said "there's too many of you lot, we need to do something about it".
Rafiq took "full responsibility" for the mistake but said he "clearly" recalled Vaughan making the comment insisting the former batter did say the phrase "there's too many of you lot".
England spinner Rashid and former Pakistan bowler Naved-ul-Hasan corroborated Rafiq's claim. Former England bowler Shahzad said he had no recollection of it happening.
Giving evidence via video link from Bangladesh on an England tour, Rashid said he had a "very clear recollection" of Vaughan making the comment and denied he had been "pressured" by Rafiq into corroborating the allegation.
Stoner called the ECB investigation "woefully inadequate" and criticised the governing body for not speaking to all the other Yorkshire players taking part in the match, the Sky cameraman and the umpires.
The ECB strongly denied an accusation of bias against Vaughan by Stoner, adding it was "inappropriate" to make that allegation.
Stoner said the case was "so critical" to Vaughan because "the shape of his life and his livelihood is at stake".
More to follow.