Charles Green yesterday completed his £5.5million purchase of Rangers' assets – after his Company Voluntary Arrangement was formally rejected.
In his takeover statement he made no reference to the rival bid lodged by former manager Walter Smith.
But Green could conceivably make a quick profit by agreeing to sell Rangers to Smith's group immediately.
Yesterday afternoon, one of the men named in his consortium denied he was a member and was instead a supporter of Walter Smith.
Green said: "Following the formal decision of the creditors' meeting, the consortium I represent has fulfilled its agreement with the administrators and has completed the acquisition of the business and assets of The Rangers Football Club plc.
"The transfer of the business and assets to a new company structure has taken effect immediately and the new company is The Rangers Football Club.
"An application has already been made by the company to register with the Scottish Football Association and to participate in the SPL."
The Yorkshireman named several of his investors and said: "The rebuilding of the club will happen from today."
Green added: "In terms of investors in the company, to date our investors include Chris Morgan, a UK-based businessman representing family trusts; Glenmuir, the renowned Scottish clothing company; Ian Hart a Glasgow-based businessman; Alessandro Celano of Blue Pitch Holdings and Zeus Capital."
Green, now chief executive of the new-look club, appears to be making long-term plans.
Ayrshire-born pension fund manager Malcolm Murray, described as a "Rangers supporter since a boy and a season-ticket holder", has been installed as chairman.
Green has plans for a dual governance structure – with a football board and company board.
He said: "These are early days and there is a huge amount of hard work to be done to rebuild Rangers.
"It will take time and effort, passion and commitment. Rangers will rise again and that journey began in earnest at Ibrox today."
He added: "We are looking to expand that investor base and are in discussions with a number of interested parties.
"I have been greatly encouraged by the enthusiasm investors have shown and their belief that Rangers can have a great future. I believe that too, and I, along with everyone at the club, will work tirelessly to make it happen."
Green later made an offer to Smith to become chairman of the football board during an impromptu media conference at Ibrox.
He revealed his group had spent around £10m putting a deal together and did not appear willing to sell the club immediately.
However, one of the investors named by Green has strenuously denied being part of the consortium which today completed the purchase of the business and assets of Rangers.
Glasgow businessman Ian Hart was named by Green on the Ibrox club's website as being one of the investors.
But Hart later stated his support for Douglas Park, who is part of the group led by Walter Smith, who confirmed a new bid for the club today.
A statement reveals Hart was one of the Blue Knights, who were involved in a previous bid for the Ibrox side, and that "the lifelong Rangers fan also intends to financially support Smith's group".
Hart had agreed that money he invested in the youth development department some years ago be put towards the funds underpinning Green's Company Voluntary Arrangement proposal but he has not put new money into Green's consortium.
Hart said in the statement: "A number of years ago I invested in the youth development department and that money was lying in the youth development department.
"At the time when Charles Green was the preferred bidder and was going for the CVA, I allowed that money to be used in order to get a CVA, but I am not part of his consortium.
"That was on the basis that he was going for a CVA, for the simple reason of trying to help to save the club. But I am not part of his consortium and I've been behind Douglas Park in the previous bid with the Blue Knights.
"I spoke with Douglas yesterday and today, and I was very happy to be involved in putting more investment into the bid by Douglas.
"I am not part of Green's consortium. I remain in full support of Douglas Park."