Alex Rae insists Rangers and Celtic fans would "embrace" a move south of the border to the Premier League.
Following the collapse of European Super League talks have now turned to a British equivalent with the Glasgow giants being added to the English top flight but Record Sport understands the plan looks a non-starter.
Any any hope of Rangers and Celtic to ditch the Premiership would require UEFA to relax its rules over cross-border leagues.
However, the former Ibrox midfielder told Football Pass that lessons will have been learned from the failure of the European breakaway and other English and Scottish sides would get a say.
Rae said: "It’s fascinating on the back of the failed Super League.
"It gets mentioned every couple of years that Rangers and Celtic would be a good addition going down to England, but I don’t think there has been a real thirst for that from the English Premier League clubs, but there may well be a little bit of change.
"Even though the Super League hasn’t been pulled off I do see change.
"The only way this could ever happen is it the clubs in Scotland and England voted for this.
You couldn’t just have teams saying we are walking out of the league. I think it leaves such a bad feeling with things.
"I feel as if it’s going to be done right it has to be done with blessing of Scottish football and English football, so that if they go down there, there will be some kind of compensation and financial package so the teams in Scotland are not left behind and they can flourish with the money that would be put into the game."
Rae believes that both sides of the Glasgow divide would buy into the revamped division - and would be able to compete with the top clubs south of the border.
He added: "I’m absolutely certain Rangers and Celtic fans would embrace going down to a big league like that. You can imagine Manchester United, Arsenal, Liverpool, Chelsea; it would be mouthwatering.
"With Rangers and Celtic at that table it would be frightening when you think about it, because of the fan base.
"People have been saying would they survive in that type of environment with the money down there, but I’m sure with the investment they would catch up very quickly."
