Ron Gordon held tentative talks over a breakaway 'Atlantic League' competition featuring sides from across Northern Europe, according to Aberdeen chief Dave Cormack.
The Hibernian supremo was among the Scottish football bosses joining a series of calls last earlier this year over plans for a 20-team competition.
The proposal, put forward by Shelbourne owner Andrew Doyle would have seen sides from Scotland, Norway, Sweden, Denmark and the Republic of Ireland join a new setup with broadcasting rights valued at a whopping £350 million.
Under the blueprint, Aberdeen, Celtic, Hearts, Rangers and the Hibees would team up with sides from Scandinavia and Ireland to make up the table, with promotion and relegation allowing the likes of Kilmarnock and Motherwell to join the division.
The Scottish Cup would have been preserved as a domestic competition, but according to Cormack, promising early discussions fell apart when Celtic owner Dermot Desmond pulled the plug on the Parkhead side's involvement.
The Aberdeen chief executive told the Daily Mail that the move was backed by Uefa as he urged the Irish tycoon to reconsider his position over the huge potential revenue on offer.
He said: "This was a serious proposal for Scandinavian teams, a team from Ireland and five teams from Scotland to form an Atlantic League.
"But the real opportunity was to bring in 300m or 400m Euros a year in broadcast media rights, which would be significant for every Scottish league all the way down.
"The SFA were aware of it. The SPFL were aware of it. And Celtic, Rangers and ourselves and Ron Gordon at Hibs were aware of it.
"UEFA got behind it, but it was really down to the individual leagues.
"I got involved in a couple of Zoom calls in the last couple of months of discussion. And it was then that Andrew Doyle from SAL Partners in Ireland came out and said Celtic had pulled out.
"I don't know why. The clubs were simply informed that Celtic had decided to pull out at this stage. And so they are back to the drawing board with it now.
"I think it is something we all need to really look at.
"If there is 300m to 400m Euros available to Denmark, Sweden, Norway and Scotland and Ireland, then there is money to go around. It should be a serious conversation point."
