Former Rangers owner Sir David Murray maintains the club is 'destroyed' despite the recent ruling in their tax case.
A tribunal allowed the oldco Rangers to appeal to Her Majesty's Revenue and Customs (HMRC) over a potential £75m bill for the use of Employee Benefit Trusts (EBTs) during Murray's ownership.
But Murray, who ended up selling the Ibrox club to Craig Whyte for £1 in May of last year, refused to celebrate after the tribunal returned a 2-1 majority verdict to permit the appeal.
He said: "Nobody has won, there is no point in me waving a big flag and saying we have won - Rangers has been destroyed. What I find amazing is we were guilty until proven innocent.
"This is the only case in history where awards were given to TV programmes when there hasn't even been a result.
"But I need to stand back at the moment, this is not a time for triumphalism because nobody has won, the taxpayer hasn't won and Rangers hasn't won. This should never have happened."
The former Rangers chairman also confirmed that his oldco had offered HMRC an out-of-court settlement two years ago worth in excess of £10m.
Murray added: "The amount of time, effort and fees could be seven to eight million quid on top of that. Clearly if that had happened we would not have ended up with Craig Whyte.
"The biggest question is why the Revenue knew in August 2011 that Craig Whyte wasn't paying national insurance and tax but didn't put him down - this has so many ramifications for business."