Premier League chairman Sir David Richards will not face any disciplinary action from the Football Association over allegations of illegal payments at Sheffield Wednesday.
A newspaper report had alleged that while chairman of the club, Richards was involved in covering up payments made prior to his arrival.
In a letter to Richards from FA chairman Geoff Thompson, the governing body revealed the results of an investigation as to whether there were any grounds for them to launch disciplinary proceedings.
An FA statement, released tonight, revealed that investigation had concluded: 'Richards did in fact inform the FA and the League of these payments, made prior to his involvement at Sheffield Wednesday FC, at the time and fully co-operated with League and FA inquiries.'
It added: 'Richards also informed the Inland Revenue of these payments, which was his responsibility as chairman of the club.
'The FA was advised of these payments at the time, was therefore aware of potential breaches of rules, and did not take any action.
'The evidence conclusively proves that David Richards acted entirely appropriately in regard to this matter and therefore the FA has no need to take any further action.'