Rangers claim they have reached an agreement with Coventry over the transfer of John Fleck.
Fleck is one of a number of Ibrox players who have objected to the transfer of their contracts from Rangers to Charles Green's newco. PFA Scotland believes the wantaway players are free agents and have asked the football authorities to release their registration from Rangers, but Green has vowed to seek compensation.
It was nevertheless understood that any deal taking the 20-year-old midfielder away from the crisis-torn club would be on free-agent terms. But responding to media speculation on Wednesday morning, Rangers said that an agreement had been reached with Coventry for Fleck that "recognised Rangers' rights".
Green said: "Coventry City have acted in exactly the right way in the transfer of John Fleck to ensure that all three parties - both clubs and the player - are satisfied with the deal.
"We wish John and Coventry all the best for the new season."
Earlier on Wednesday, Green reacted to media suggestions he would take legal action against Coventry and Fleck.
His statement read: "An inaccurate media report this morning suggests the club is taking legal action against John Fleck over his move to Coventry City.
"Both clubs have in fact reached agreement for the transfer of the player and Coventry have recognised Rangers' rights as part of the process."