Former Rangers chairman Malcolm Murray is “pretty sure” Craig Whyte has no involvement with the club.
But he admits he never saw the report by law firm Pinsent Masons into alleged links between Whyte and former chief executive Charles Green.
Reports have claimed Police Scotland has written to Green to ask him about the situation as part of their ongoing probe into Whyte’s 2011 takeover.
Murray told BBC Radio Scotland’s Sportsound programme: “I don’t think there is any contractual relationship between Craig Whyte and Rangers. The assets are owned.
“Whether there is any side payments to Craig Whyte by any individuals is nothing to do with Rangers and that’s something none of us may ever know.”
Murray was surprised by the audio tapes showing Whyte had discussions with Green and his allies before they bought the liquidation-bound club’s assets and business.
But he added: “I’m pretty sure he’s not involved at all.”
Green insisted he never intended to carry through on his proposed deal with Whyte and was stringing him along in order to acquire his shares if needed.
The club never released the findings of the investigation other than to say that they considered it found no evidence that Whyte had any involvement with Sevco Scotland, the company which ultimately acquired the assets from administrators.
Murray said: “On the Pinsent Masons situation, that started out as a pretty full-blown investigation and then got narrowed and narrowed and narrowed.
“I have never seen the report, which is one of the reasons I am not there now. So we don’t know exactly what’s in it.”
Murray stated that the possibility of Whyte being involved in any way was only a “minor concern”.
He added: “My major concern is that the cash is disappearing far too quickly.”
Rangers International Football Club PLC made a £14million operating loss in the first 13 months of trading as a new company, a major part of the reason Murray and three allies are putting themselves up for election at the club’s AGM on December 19.
Murray’s group have previously stated that action could be taken to bar significant shareholders Blue Pitch Holdings and Margarita Holdings from voting amid concerns over the identity of their backers.
But Rangers on Monday night claimed that they had taken all legal steps to address requests for details of the shareholdings and the holdings have “properly responded”.
A Rangers statement read: “The company understands that these former directors will, having seen these responses, be aware that there are no grounds to take action to bar voting rights.”
Rangers also claimed that newly-appointed acting chairman David Somers was seeking to make boardroom appointments “with the support of the majority of shareholders” after Murray claimed he had no mandate to do so.