South African-based businessman, Dave King has been deemed fit and proper by the Scottish Football Association, and is now free to become chairman of Rangers.
The SFA assessed King's suitability and, after consulting legal advice in both Scotland and South Africa, gave King the green light to continue his revival of the downfallen club.
King led a successful bid to remove the previous board at Ibrox in March, but the governing body found his prior tax convictions in South Africa alarming.
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Fit and proper
A SFA statement read: "On the basis of this advice presented to it, and having considered all submissions received from Mr King and the club in respect of this matter, the Scottish FA Board granted an approval, conditional upon further submission from Mr King in respect of documented agreements with the appropriate authorities in South Africa.
"The Scottish FA can confirm it has now received this supplementary documentation in full and the board is satisfied Mr King is fit and proper."
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Time to rebuild
The new Rangers chairman released a statement almost immediately on the Rangers website. "I am delighted with today's announcement from the Scottish FA," it read. "I can now turn my attention fully to the task of re-building Rangers.
"The process has understandably been a long one given the recent negative experiences with some of the previous board members.
"It was essential that I dealt fully with all of the Scottish FA's questions and provided them with everything they required, no matter how personal, in order to prove that there were no barriers to me joining the board.
"I thank the Scottish FA for their diligence in this matter and now it is time to look ahead and map out Rangers' future."
Most successful team in Scotland
The mistreatment of the Glasgow giants has been well documented since they entered administration in 2012. The abuse has been continued by a line of unfit board members, but Rangers fans may finally have reason to be optimistic.
The news that Rangers' 'white knight', as he has been referred to, is now free to become chairman will no doubt have given the club a boost, as they defeated Hibernian 2-0 in last night's first leg, semi-final play-off.
Can Rangers reach the glory days they were so used to? Give us YOUR opinion in the comment box below!