Aragones wins appeal.
Aragones was caught on camera making racist remarks about the Arsenal striker in October 2004.
The following month England's black players were treated to a tirade of racist abuse from fans in Madrid.
The Spanish Football Federation opened an investigation with a judge recommending Aragones be fined for behaviour "contrary to the good order of the sport".
Aragones said yesterday: "I went to court because it was a stain on my reputation and because the offence did not exist as some judges thought."