Rangers are set to start the new season in the Irn-Bru Third Division and they are currently speaking with the Scottish Football Association for the newco to gain membership of the governing body.
Green has revealed he will travel to Athens to secure a friendly against Olympiacos at Ibrox before moving on for talks with UEFA.
He said: "Part of the conditions for the newco to meet to satisfy SFA membership is that there are certain old club debts to European clubs.
"It is not inconsiderable, it is about £3million that has been accumulated as part of the historical baggage.
"These are oldco debts newco has got to face up to and this is the frustration we've had as a group where at times we are newco so we have to sit in this particular box.
"However when it is convenient we are still oldco so we have to suffer the sins of the fathers.
"Nevertheless what I want to go and say to these clubs as well as UEFA is that we are here for the long haul, we want to be honourable, we are people who face up to responsibility but we want some help in meeting these because we do want to get Rangers back to the top of the pile and when we do get back into Europe - whether it's five or 10 years or 20 years - we want to walk back with our heads held high.
"We don't want them to be waived, we don't expect them to be waived and part of me says why should a club waive its debts when it's done its thing honourably.
"Equally I think I would like the clubs and UEFA to recognise these are not my debts, this is a gesture and for them to work with us where we can come to some amicably agreeable settlement and move forward together as friends."
Green also believes there has been a change in attitude from the fans towards him and revealed they can ultimately own up to 50% of the club.
"I am trying to do a job that rescues Rangers for the fans and for the people who own this club. They can own up to 50% of this and again if fans choose not to buy shares then that is their right. The opportunity is there, we will have fulfilled our promise to fans and that is the next step."
Green is also bidding to persuade the SFA to drop demands to accept a transfer embargo. Rangers successfully challenged the transfer ban in the Court of Session before Sevco bought their assets when they were consigned to liquidation.
A judge ruled the sanction was not open to the SFA but the stated punishments range from ejection from the Scottish Cup to suspension or termination of membership.
The SFA would have no control over the outcome were they to hand the decision back to their independent appeal tribunal and chief executive Stewart Regan, who was handed a vote of confidence by the board last night, has asked Green to accept the transfer ban and £160,000 fine, as well as promising to pay back the circa-£3million in football debts that Rangers owed.
Green is now resigned to losing Romanian defender Dorin Goian and United States pair Carlos Bocanegra and Maurice Edu and does not believe a transfer ban is realistic given manager Ally McCoist had already lost a full team of players this summer.
Green said: "The difficulty we have is we've been working for many, many weeks now on these issues and there is a point where unless I as CEO accept sanctions then we won't be granted permission to join the SFA. But it's a balance between what's fair and what's required."
Green, who told Ibrox staff there will be job cuts yesterday, added: "We are now accepted as a member of the football league but we are unable to even play a friendly and the first cup game is in less than two weeks.
"We haven't got many players because some who have been tremendously loyal, Goian for example, they came back hoping that some sense might have prevailed.
"He was happy to commit to Rangers even if we were not in top flight but clearly we can't expect an international player to be playing in Division Three, unfortunately.
"We're going to lose some more now for different reasons than the others. It does increase the pressure on Ally even further. We're asking him to manage a club where the SFA still want to put some transfer embargo on us and we haven't got any players at all."
The SFA said in a statement: "The new season begins in less than two weeks and it is incumbent on the Scottish FA to conclude all outstanding issues relating to Rangers FC.
"To that end, we aim to meet with the club this week with the intention of achieving a satisfactory outcome for all parties so that we can focus on football in time for the new campaign."