Rangers claim they will not lose their licence to play in Scottish football as the result of a police investigation involving Craig Whyte and Charles Green.
Media reports have revealed officers from Police Scotland's Economic Crime Unit are looking into links between the two former Ibrox chairmen.
Whyte, the former owner of Glasgow Rangers, is banned from any involvement in Scottish football after the club entered liquidation in 2012.
Green purchased assets belonging to the old club, such as Ibrox Stadium and the Murray Park training facility, but Whyte then claimed he was a director of Sevco 5088 Limited - the company behind the new brand.
Rangers launched an internal investigation earlier this year using law firm Pinsent Masons, which cleared Green of any involvement with Whyte.
Malcolm Murray, another former Ibrox chairman, admitted he did not see the reports from Pinsent Masons before his departure from the club, but that he was "pretty sure" Whyte has no involvement.
A statement from Rangers read: "Incorrect stories concerning the company have appeared in the media today and yesterday concerning allegations that Craig Whyte still has links to Rangers, which the company would like to clarify.
"Pinsent Masons has not reported to the police that Craig Whyte has any connections to the company. A separate matter was reported to the police by Pinsent Masons, on behalf of the company. That matter related purely to a director appointment form which purported to appoint Craig Whyte as a director of Sevco 5088 Limited.
"One of the reasons the investigation report has not been released was because a matter was reported to the police. The company did not wish to do anything that may undermine any police inquiries into the issue. The board of directors have at all times acted to protect the interests of the company and the company's ability to take legal action.
"The company regret the need to disclose this issue but it is necessitated by the incorrect and speculative articles that have appeared in the media. There has also been speculation in the press on the impact that a police investigation has on the club's SFA licence to play football. To confirm, there are no grounds for the SFA to withdraw the club's membership.
"The company also notes that former chairman Malcolm Murray dismisses the allegations concerning Craig Whyte's supposed involvement with the club."