Premier League clubs closed the door yesterday on incorporating Celtic and Rangers in any restructuring after concluding that the commercial benefits of such a move had been overestimated.

Although the 20 member clubs will continue to explore possible changes to the structure, which include the controversial proposal of a league consisting of two 14-club divisions, the idea of admitting the Old Firm was dismissed out of hand at yesterday’s shareholders meeting in London.

A vote was held to determine whether the Old Firm plan should be retained as part of the structural review. Although it was not unanimous, the clubs voted heavily against the proposal and for it to be dropped as a longstanding agenda item.

In a statement, the Premier League said that the idea had been determined “not desirable or viable”. Richard Scudamore, the Premier League chief executive, added: “The clubs have discussed it as part of strategic development but, as far as Rangers and Celtic are concerned, it’s a non-starter. ‘No’ means never.”

Several chairmen and chief executives have privately expressed support for the idea in principle. But there was a recognition yesterday that the political and regulatory challenges were likely to prove insurmountable and, intriguingly, that the impact on the league’s commercial value would not be enough to justify pursuing such a venture. Although Celtic and Rangers enjoy huge support in Scotland and among expatriates, the consensus yesterday was that the commercial upside would be comparatively small at a time when the league’s emphasis is on expansion in growing global markets.

The Old Firm clubs had not been involved in the discussions, which had been pushed by Phil Gartside, the Bolton Wanderers chairman. But Alastair Johnston, the Rangers chairman, believes change will occur even if it does not involve the Premier League.

“This particular decision doesn’t surprise me or overly concern me,” Johnston said. “But I don’t think it’s the end of the talk in terms of moving away because I think there are winds of change moving across Uefa. It may not be in terms of restructuring leagues, but quite clearly a different business paradigm will be required.”

Gartside’s other proposals, which include the formation of a 28-club league split into two divisions, with no promotion to or relegation from the second tier, will continue to be explored over the next year.

The Premier League statement read: “The other relevant ideas contained within Bolton’s paper will now be taken forward as part of the wider strategic review being undertaken by the Premier League since November 2008 with the aim of providing recommendations before December 2010.”

Gartside said: “I’m not a visionary. I’m just interested in the game and how I can help to make it better.”