The former Ibrox boss confirmed earlier yesterday he would step aside after a £6m (€7.4m) offer to the Charles Green consortium was rejected.
Smith’s group revealed their interest in purchasing the stricken Glasgow giants last Thursday.
However, within hours, Green and his investors completed the purchase of the business and assets of Rangers as a newco after failure to secure a Company Voluntary Arrangement (CVA) consigned the club to liquidation.
Murray was swiftly appointed to the board after the ex-Sheffield United chief executive completed the acquisition and stressed again his involvement in the company now known as The Rangers Football Club is not for “personal gain.”
Murray said in a statement: “On behalf of the board of directors I would like to reaffirm the long term commitment of the investors who acquired the club last week. The consortium is wholly committed to rebuilding Rangers and their investment is regarded as a strategic long-term project.
“As I have said previously I am not in this for personal gain and what is of paramount importance is the club regains stability both in financial and footballing terms.”
Green will discover on July 4 whether the club will be granted entry into the Scottish Premier League.
All 12 top-flight clubs will vote on the issue at a general meeting convened after the football body confirmed an application for registration of transfer of Rangers’ SPL share had been received.