A B.C. Supreme Court judge has ruled Francesco Aquilini should retain ownership of the Vancouver Canucks.

Former business associates wanted Francesco Aquilini's purchase of the Vancouver Canucks voided by the B.C. Supreme Court.
(Chuck Stoody/Canadian Press)

In a decision released Thursday morning in Vancouver, Justice Catherine Wedge said the relationship between Aquilini, Tom Gaglardi and Ryan Beedie was not a partnership or joint venture.

Wedge also ruled that even if the three men had a business partnership, it ended when Aquilini gave notice to the two businessmen, ending their joint venture. 

The decision followed a five-month trial and volumes of evidence about the attempts of the three wealthy Vancouver businessmen to buy the team.

Gaglardi and Beedie, launched the suit for half-ownership of the team in January 2005.

They claimed Aquilini abandoned their group bid to buy the team in March 2004 and arranged his own $250-million deal with former owner John McCaw instead.

Aquilini testified at the civil trial that he didn't start serious negotiations with McCaw until Nov. 3, 2004, and two days later they had a deal.

Aquilini's lawyers argued there was no written agreement between the former partners. 

"This was a complete shutout for the Acquilini side. They failed on all points they raised and the judge has completely vindicated the conduct of my client," said Howard Shapray, one of Acquilini's lawyers.

Acquilini said he's relieved the legal case against him is over.

"I don't need to read headlines anymore that are just not true," he told CBC News Thursday.

"Was I a little nervous? Yes, I'd never been in a courtroom before but I'm just really glad this is over"