Henry McLeish has accused the five clubs five clubs calling for a change to SPFL financial distribution of being "by the few, for the few".
Former First Minister McLeish, writing in his Scotsman column, says Edinburgh club Hearts and Hibs, as well as Aberdeen, Dundee and Dundee United, are being "driven by a maxim" for the haves and against the have nots.
The Premiership quintet are seeking change in Hampden corridors of power and have commissioned an independent review into SPFL finances - to be conducted by American consultancy firm Deloitte.
With four of the five clubs' chairmen possessing ties to the US - including Hibs chief Ron Gordon - McLeish is concerned we are headed to a proto-Scottish Super League.
While the five-team group claim they are only trying to “identify additional revenue streams for the benefit of the game”, McLeish is sceptical it won't reach as far as all 42 clubs - including former employers East Fife.
The 73-year-old is worried the Scottish lower leagues could be in trouble as he revealed his deflation at the review he conducted into our game over a decade not being fully implemented before this crucial juncture.
The former Fifers wing-half said any update of his own review: "should be part of a wider ambition involving every aspect of the game and not a narrow segment whose views are increasingly obvious and driven by the maxim: of the few, by the few, for the few.
“Clubs in League One and Two now fear for their future,” he added.
“They of course should have a future. However, because the SFA is not functioning and the SPFL have been taken over by a few clubs, the prospects don’t look good.
"I have a hint of personal sadness when it comes to a club like East Fife where the future may be challenging but the history is remarkable.”
