The rebel clubs want to form a partnership with the Scottish premier league (SPL) - the body which runs Scotland's top division - and form a second tier called SPL2 in the hope of a share of commercial and television revenue.
Livingston, Falkirk, Inverness Caledonian Thistle, Ross County, Airdrie, Raith Rovers and Clyde, who hosted the summit, believed the new partnership was urgent.
Several first division sides face crippling debts or even closure since being cut off from large-scale sponsorship by the SPL breakaway - led by Celtic and Rangers - in 1998.
The Scottish League were left to manage the remaining three divisions which attract small crowds and paltry sponsorship and TV revenues.
They believe the move, which is expected to be approved by the existing premier league clubs, will see some of the SPL's funding seeping downwards.
Dominic Keane, the group's spokesman and chairman of Livingston, told Reuters: "We cannot operate within the existing structure. The first division in its present form is not working.
AGREEMENT
"We have signed an agreement which states that if, by May, we have not found a negotiated way to leave amicably, then we will tender our resignation from the Scottish League.
"When the SPL breakaway happened two years ago, the second and third division clubs were largely unaffected. The SPL clubs have done superbly, but it is teams in the middle who have suffered."
While the SPL has attracted commercial revenue of around 80 million pounds ($118 million), many first division sides are now suffering the consequence of gambling on keeping full-time professional squads in a bid to win the one promotion place available.
Keane, who helped in the rescue of Celtic from bankruptcy in 1994 and spent three years there as a director, insisted there was potential below the top flight in Scotland but said the rebel clubs cannot wait the two years which are required as notice of resignation from the Scottish League.
"We are trying to maintain the second tier of Scottish football which is full-time. We cannot wait two years," he said. "We want to leave and open our own league, set up in partnership with the SPL."
CHANGE
Keane said: "We are not destroying Scottish football, but we don't want a club to go to the wall before a change is made."
Livingston, who lead the first division and could achieve SPL status anyway, symbolise the growing gulf. They have benefited from a four million pounds ($5.90 million) investment which has recruited players and finished a 10,000-all seater stadium.
But Falkirk, 1997 Scottish Cup runners-up, were denied the chance to contest a promotion play-off last season because their Brockville ground did not meet SPL criteria.
The club has spent the last few years selling their best players.
Airdrie are two million pounds ($2.95 million) in debt through funding their new all-seater stadium, but have optimism for the future now that former Barcelona player Steve Archibald is soon to be confirmed as the owner.
Only Alloa and Ayr United of the 10 first division sides favoured staying with the Scottish League, while financially-stricken Morton, who are 1.75 million pounds ($2.58 million) in debt, backed the move in principal but declined to attend the meeting.
Reuters.
