On the plus side, neither FIFA or UEFA seem that keen on the idea judging by the quotes in the article...but who knows?
This might just be an attempt at putting some pressure on ahead of the Champions league revamp, but the response from the La Liga president rather sums it up:
“The authors of that idea – if they really exist, because there is nobody actually defending it – not only show a total ignorance of the organisation and customs of European and world football, but also a serious ignorance of the audiovisual rights markets. A project of this type will mean serious economic damage to the organisers themselves and to those entities that finance it, if they exist, because they’re never official.
These ‘underground’ projects only look good when drafted at a bar at five in the morning.”

- yup, been there more than once!!