The Rangers chief executive Charles Green has apologised to Aston Villa after he described the Midlands club as "useless".
Green's comments came as he lamented the huge financial disparity between the Premier League and the Scottish top flight at a press briefing late last week.
He said: "How can Man United's revenues be £320 million and Aston Villa, who are completely useless, get £250 million?"
But he has now said sorry to Villa, issuing a statement in which he explained: "During a press briefing, I was asked how I saw the future of football.
"I was explaining how I believed that the current situation, where clubs in England are receiving massive revenues from television rights yet remain behind the big clubs in England and Europe in terms of success in competition, is unlikely to continue forever.
"Some of my remarks were taken out of context, and I apologise unreservedly to Aston Villa, whom I know full well to be a club with a proud history."
Villa said they had accepted Green's apology, and a club statement added: "Villa were surprised when Charles Green took a swipe at the club.
"Whilst admittedly bizarre and out of left field, Green did later apologise and we are hoping that, going forward, Green will retreat to his day job and leave the cutting remarks for those standing on somewhat stronger footing."