Ogilvie has come under pressure after the SFA and then the Scottish Premier League vowed to investigate the alleged non-disclosure of payments to Rangers players during his spell at Ibrox.

The former Rangers company secretary confirmed he had been a member of the Employee Benefit Trust (EBT) scheme, which was the subject of a tax tribunal in January and could cost the Ibrox club £49million.

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Ogilvie moved to clarify his role at the club and insisted he would "look forward to new and exciting challenges ahead at the Scottish FA".

Ogilvie, who was employed at Ibrox from 1978 until leaving for Hearts in 2005, spoke out after his position was questioned given the ongoing investigation into Rangers' financial affairs.

Ogilvie protested his innocence over the contracts issue although he admitted benefiting from the controversial EBT scheme.

In a statement published on the SFA's website, Ogilvie said: "In light of today's comments by (former Rangers owner) Sir David Murray, and the ongoing speculation surrounding my role as president of the Scottish FA and my previous employment as a director of Rangers FC, I would like to take this opportunity to clarify the following points.

"I was aware of the EBT scheme in operation at Rangers during my time at the club and, indeed, was a member. The existence of the scheme was published in Rangers' annual accounts.

"My role at Rangers, until the mid-90s, included finalising the paperwork for player registrations.

"As confirmed by Sir David Murray today, it was never my role to negotiate contracts during my time at Rangers.

"It is also worth noting that, since the mid-90s, I was not responsible for the drafting or administering of player contracts.

"I ceased being company secretary in 2002 and became general secretary responsible for football strategy, in effect becoming the main point of contact between the club and the respective league and governing bodies.

"In relation to the recent investigation, I can confirm that I asked to be excluded from the Scottish FA's independent inquiry into Rangers.

"In the interests of good governance it was absolutely right that this was the case."

The SFA's recent inquiry into Rangers briefly incorporated allegations of undisclosed payments to players following claims by former Ibrox director Hugh Adam.

Adam claimed some payments were not included in official contracts that were registered with the football authorities, with the 86-year-old "pretty sure" similar payments were being made as early as the mid-1990s.

The EBT scheme ran from 2001 to 2010 and followed a similar offshore payments programme from 1999-2003, which sparked a separate £2.8million claim from Her Majesty's Revenue and Customs. Rangers last year conceded this case but Craig Whyte did not pay the sum after taking over in May.

The SFA dropped their investigations into the issue after the SPL announced an inquiry into the alleged non-disclosure of payments to players from 1998, although the main governing body would hear any appeal.

Ogilvie is determined to carry on in his role, which he was elected to in June last year following a spell as vice-president.

"I am proud and privileged to be president of the Scottish FA during an exciting period in its history," he said.

"I have an excellent relationship with our chief executive, Stewart Regan, and the board of directors.

"I would like to thank them for their support throughout this process and look forward to new and exciting challenges ahead at the Scottish FA."

While the past finances of Rangers were in focus, more talks were held over the future ownership of the club.

Former director Paul Murray has stressed his commitment to submitting a takeover proposal on Friday, the deadline for first indicative bids.

However, another potential bidder, Sale Sharks owner Brian Kennedy, admits he is "reluctant" to follow through his interest.

Kennedy told BBC Scotland: "I don't really want to buy the club, but I don't want to see Rangers die.

"I've said from the start that if the administrators view my offer as the best one for the club, I'm happy to take it on."

Administrators Duff and Phelps have previously revealed there was interest from the Far East and America.

Meanwhile, sources close to the administrators have played down the significance of a planned court hearing on Monday to ratify the club's administration status.

Rangers did not seek the consent of the Financial Services Authority when they went into administration on February 14 as required but administrators have described the new hearing as a procedural issue rather than a fundamental problem.