Fri, 27 Jul 2012 22:01:00 – The Scottish Football League announced that agreement had been reached following weeks of discussions, releasing a statement on behalf of the three football authorities while the Ibrox club also announced they had signed an agreement. The SFL, SFA and Scottish Premier League statement read: "We are pleased to confirm that agreement has been reached on all outstanding points relating to the transfer of the Scottish FA membership between Rangers FC (In Administration), and Sevco Scotland Ltd, who will be the new owners of The Rangers Football Club. "A conditional membership will be issued to Sevco Scotland Ltd today, allowing Sunday's Ramsdens Cup tie against Brechin City to go ahead. "Following the completion of all legal documentation, the Scottish Premier League will conduct the formal transfer of the league share between RFC (IA) and Dundee FC on no later than Friday 3rd August 2012. "At this point, the transfer of Scottish FA membership will be complete." The document revealed Sevco, who bought Rangers' assets for ?5.5million last month, had agreed to accept a 12-month transfer embargo, beginning on September 1 and settle all of the old Ibrox company's football debts of around ?3million. The SPL investigation into alleged undisclosed payments to players, which centre on the use of employee benefit trusts (EBTs) that are the subject of an ongoing tax tribunal, will continue despite resistance within Ibrox. And both leagues have reached agreement on the SPL securing the broadcasting rights to Rangers' Third Division games in order to safeguard their television deals. The SFA have also been satisfied by information on Sevco's shareholders and business plan. Ibrox chief executive Charles Green confirmed he had signed the agreement but vowed to fight any SPL sanctions, which could see Rangers stripped of titles. Green said in a Rangers statement: "In reaching the agreement, the board has had to take some very difficult decisions to gain SFA membership, including accepting the delayed transfer ban and paying outstanding financial penalties, but we are now able to get back to playing football and plan for the new season. "The agreement enables the Club to move forward but there remains an outstanding issue with the SPL regarding EBTs. "As we have proved in the last couple of months, we will stand up to any challenges that face Rangers and will continue to fight for the club's best interests.'' However, in a separate statement released by the club but attributed to Ally McCoist, the Ibrox manager vented his anger at the SPL and SFA, accusing them of refusing to allow the club to move forward. McCoist said: "No-one is denying that Rangers were badly mismanaged for 10 months. Nor are we disputing that we should be punished for that. We have been. We accept that punishment and want to start putting the past behind us and move forward. "But that is not being allowed to happen - and I have to ask myself why?" SFA chief executive Stewart Regan said the governing body's main motivation was to ensure the new owners would act in the best interests of the club and the game. He added: "This will allow the season to kick off as planned this weekend and I am sure there will be many who will join me in welcoming the start of the new football season in Scotland. "In the months ahead, the Scottish FA will resume discussions on the subject of league reconstruction." SFL president Jim Ballantyne added: "Current events have thrown up some serious challenges to Scottish football and the SFL has played its part in trying to navigate through to a solution in difficult circumstances. "I am now looking forward to doing what we are actually here to do. To play football."