SPL clubs voted against Green`s newco being admitted to Scottish football's top-flight earlier this month, before Scottish Football League sides voted in favour of the Glasgow giants playing in the Irn-Bru Third Division, rather than Division One.
Green made the remarks in an interview on Sunday and a spokesperson for Celtic Football Club said: "These comments are not worthy of any response from Celtic Football Club. We presume the matter would now be one for the Scottish Football Association and the Scottish Football League to deal with."
The SFA's compliance officer will now look to see if any specific rules have been broken as a result of the comments, which came as Ally McCoist's men secured an extra-time win over Brechin in the Ramsdens Cup. If he decides there is a case to answer, the club will then be contacted in writing.
Speaking in an interview with BBC Scotland, Green said: "Some of it has been driven by bigotry, some of it's been driven by jealousy and some of it's been driven by all the wrong motives."
Asked to expand on what he meant by bigotry, Green said: "We've got a position whereby Rangers were thrown out of the league and these clubs are still appealing with fans to buy season tickets.
"What's happened with Rangers, as an outsider looking in, although I am now an insider, is absolutely incredible where it seems to me the whole of Scotland have wanted to kick this giant club while it was down.
"I think justice has been done. The club were fined 10 points, it received a £190,000 fine, it was then put out the SPL, it was then put down to the Third Division, it has had to pay all the Scottish club debts, which wouldn't normally happen for a newco to be obliged to pay oldco's debts."
He added: "My frustration's been, after 30 years of business, I have never experienced anything like the last three months. Some of the business decisions that have been made really have been nonsensical from a business point of view.
"One of the meetings I went to, one of the reasons why SPL chairmen were under pressure to do something with Rangers was they [fans] wouldn't buy season tickets until Rangers were thrown out of the league."
Source: PA
Source: PA