The three-man commission, headed by Lord Nimmo Smith, found Rangers had entered into the agreements with a large number of players, with the club making payments to an offshore Employee Benefit Trust and payments made to players in the form of loans.
The commission found those arrangements, which were required to be disclosed under the rules of the SPL and the SFA, were not disclosed to football authorities.
However, it found that oldco Rangers 'did not gain any unfair competitive advantage from the contraventions of the SPL rules' and confirmed its earlier decision that newco Rangers could not be held responsible for any breach of rules by the oldco.
In a statement, Gers chief executive Green said: "I note the findings of the commission. It is abundantly clear from the ruling there was no attempt by Rangers Football Club to secure any unfair advantage or to cheat, as so many people asserted without giving any regard to the actual evidence.
"I would re-iterate that at no stage have I, nor anyone now involved in the running of this club, questioned the integrity of the commission members.
"What I did question was the creation of a process some people had predetermined.
"Every Rangers fan will be delighted that the commission refused to get carried away on this agenda."
Rangers manager Ally McCoist said: "I am delighted in many ways by the decision today.
"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. Our fans will take great heart from this and hopefully now, after all that we have been through, there will be a widespread realisation that it is time to move on.
"Rangers have a huge amount to offer Scottish football and we have always been more than willing to do our bit for the good of the game."