Charles Green believes Rangers newco have been stung with the 'ultimate punishment' after being placed in the fourth tier, but accepts the Scottish Football League's decision.
The Gers, who tumbled into administration and then liquidation, knew they would not be plying their trade in the top flight next season and were aware that their fate rested in the hands of their Football League rivals.
A vote on Friday saw an overwhelming majority of clubs condemn them to the bottom of the ladder, with an Old Firm giant set to slug it out in the Scottish Third Division in 2012/13.
Green admits the process of rebuilding in Glasgow starts right now, with the club and supporters prepared to view the current situation as an opportunity to 'start afresh' after a troubling and testing period in the club's history.
"We are grateful to be accepted as members of the SFL and accept their decision to vote us into Division 3," Green said in a statement.
"It is a matter of regret for all of us involved with Rangers that the issues surrounding the club resulted in the SFL and its members being placed in a very difficult position not of their own making.
"From the outset, we made clear we would play where we were told to play and we just want to get back to playing football.
"This decision maintains the sporting integrity that clubs and fans across Scotland have been calling for but it also impacts massively on Scottish football as a whole and only time will tell what the consequences will be.
"Rangers has been handed the ultimate punishment of starting again from the bottom of the leagues but there is an overwhelming feeling among fans and within the club of 'wiping the slate clean' as a club free of sanctions.
"The people who brought shame on this great club are no longer part of it and everyone at Rangers is focused on rebuilding the club on top of a solid financial foundation.
"We wish to play a constructive part in Division 3 and encourage our fans to support the other clubs within the league by attending matches and delivering to them the benefits of having Rangers within their league.
"We have been greatly encouraged by the number of supporters who have committed to buying season tickets no matter where we ended up playing and I personally want to thank them for their continued loyalty to the club.
"We are a football club and we just want to get back to playing football. Now is the time to move on and start afresh.
"Our task to rebuild the club will take longer now but we are committed to the job and fully believe we will bring success back to Rangers."