“We regret that our club and our supporters were given false hope”
The majority of SPL clubs had indicated they were against the newco application prior to the vote but Green complained that he had been given "false hope" of success.
"We are deeply disappointed that our application to rejoin the SPL has been rejected overwhelmingly by the member clubs," explained Green.
"This time last week, all of us at Rangers were resigned to the fact that we would not be admitted, due mainly to the public declarations of clubs indicating they would not support our application.
"At the weekend, we were approached by representatives from the SPL suggesting our application still stood a chance of success and we should discuss this further with clubs. This we did in good faith but with the knowledge of the hurdles that lay ahead of us.
Fans give their reaction to the team's SPL exit
"We had asked the SPL whether it would be more appropriate for us to withdraw our application but were advised against this.
"We made a presentation to the SPL clubs this morning, detailing our proposals in support of our application and this included what we believed to be penalties and sanctions that would have dealt fairly with the difficulties caused by events at Rangers prior to our acquisition of the club on 14 June.
"Sadly, this was rejected by the other clubs and we regret that our club and our supporters were given false hope by this initiative.
"We will now proceed as we had planned from late June to apply for membership of the SFL.
"It is entirely a matter for them whether our application will be accepted or rejected and we will make no representation to any member club prior to that application being considered.
"We also recognise that the SPL has been placed in a difficult position because of the way events have unfolded."
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