Rangers manager Ally McCoist has lambasted the investigation into the Glasgow club after they were given the all-clear to retain titles won between 2000 and 2005.
The Ibrox outfit were fined £250,000 by the Scottish Premier League Commission for breaching rules regarding the payment of Employee Benefit Trusts but it was judged that they did not gain a sporting advantage and were cleared of having their championships stripped.
Despite the ruling, McCoist was furious that the Rangers name was tarnished and felt for all those people who have ever played for the club who have been insulted.
"I am delighted in many ways by the decision," he said.
"As a former player, I know how hard it is to achieve success on the pitch and the suggestion that somehow Rangers sought to gain unfair advantage was deeply insulting to me and others who had worn the Rangers jersey with immense pride.
"I found the whole approach to this matter by the SPL utterly bizarre and misguided.
"It's been niggling away at all our minds for a long time now.
"We were 100 per cent sure there had been no wrong-doing in terms of trying to seek an unfair advantage or to take it more bluntly cheat because that is the worst crime you can ever level at a sportsman."