The AFL has announced no adverse findings against Alastair Clarkson, Chris Fagan or Jason Burt over the Hawthorn racism allegations.
But the matter is far from over, with ongoing legal action looking inevitable.
Fagan issued a strongly worded statement within minutes of the AFL announcement on Tuesday night, slamming the sequence of events over the last nine months as "this farce of a process".
The Brisbane coach also strongly protested his innocence again and said he would welcome the chance to have his conduct tested in a public court.
AFL chief executive Gillon McLachlan called a snap media conference to announce the independent inquiry investigations into the bombshell claims would end after eight months.
It means Clarkson, now on leave from coaching North Melbourne, Fagan and Burt, now working at a Melbourne school, are cleared of breaching AFL rules while they were at Hawthorn.
The inquiry has reached an impasse given it could not find common ground between the parties involved.
"This is an imperfect resolution and I want to reiterate the way this report emerged has led to a period of high distress for all parties," McLachlan said.
"It was always going to be difficult to find an outcome."
McLachlan stressed the four-person independent panel endorsed Tuesday's resolution.
Clarkson, Fagan and Burt all vehemently denied any wrongdoing.
"No adverse findings have been made in the Independent Investigation against any of the individuals against whom allegations have been made," the AFL said in a lengthy statement.
"The complainants wish to resolve all differences with the AFL.
"As a result of this agreement, the complainants do not wish to pursue the Independent panel Investigation (which they wholeheartedly supported), or make any claims against the AFL in any other process or court in relation to their allegations.
"The AFL has now terminated the independent panel Investigation with the consent of the complainants with no charges to be brought against any person subject to the AFL rules."
The AFL statement said six complainants had agreed to the resolution, but they do not represent all six of the families who are understood to have made the initial allegations.
Significantly, the AFL also noted separate legal action could still happen.
"The AFL is only able to impose sanctions for breaches of AFL rules on persons subject to the AFL rules and respects the right of the various parties to the investigation (and those who decided not to participate) to pursue claims in other legal forums," the league said.
"Today's outcomes do not interfere with those rights."
Fagan quickly came out swinging with his statement.
"I am happy for any of my conduct and any documents to be aired publicly in a public court or proper public process and let someone impartial decide what is true and what is false," he said.
"I have made no concessions. There are none to make ... I have done nothing wrong."
The AFL also did not rule out taking its own action against Hawthorn for how the club handled the start of the saga.
McLachlan said the way Hawthorn handled the process where initial allegations were made put many parties involved in a "hugely vulnerable situation".
The most serious of the accusations is that an Indigenous player was told to encourage his partner to have an abortion.
The Hawks saga started last year after former Indigenous star Cyril Rioli and his wife Shannyn Ah Sam-Rioli publicly claimed they were treated poorly during their time at the club.
That prompted a Hawthorn review of current and former Indigenous players, which led to the bombshell racism claims being leaked to the media last September.
The AFL set up the four-person inquiry eight months ago.
"We support all parties doing what they want to do from here. I'm not making a comment whether they should or should not," McLachlan said of potential legal action.
"This has been a very difficult period for everyone involved. It's one of the more challenging things that I've seen in the game and I just want to acknowledge the pain and toll of all involved."
As part of the announcement, the AFL also announced it would put more resources towards combating racism in the game.