Both Celtic and Rangers were heavily involved in negotiations with clubs from Holland, Belgium, Portugal and Scandinavia before Uefa announced that the proposals would not be allowed to go ahead.

Since then, the old firm clubs have expressed their desire to join the English Premiership, an idea that also looks destined to fail after English officials together with Fifa dismissed the idea.

However Quinn maintains that both suggestions are still under serious discussion among clubs throughout Europe.

"The Atlantic League is by no means dead. The concept of re-structuring European football with the Atlantic League is still a possible runner," said Quinn.

"It hasn't gone away. The clubs involved in that initiative are still talking."

On Tuesday, Celtic celebrated a �22.5m investment, with included a �2m injection from Parkhead manager Martin O'Neill, alongside �1m from Formula 1 team owner Eddie Jordan.

But Quinn and the Celtic plc board believe their responsibility to the supporters and the shareholders must be shown by exploring new avenues for the future.

"Lots of questions come up in connection with a change of this kind but I am absolutely convinced that a change will take place," he added.

"What we are saying is that we are going to be part of that change. We owe it to our fans and to our shareholders to do the best we can to give Celtic the most challenging environment to play football.

"I won't be any more specific because it would be immature and presumptuous to do so.

"Any discussions about the future structure of football are necessarily tentative at this stage.

"We are pursuing all possibilities and we want to take a constructive part in whatever comes out."