It would be interesting but a bit odd, I mean seeing as you've removed the best teams from Scotland, Scandanavia and the Baltics how does the Champions Leaue work?
As far as I remember, each member of the league gets in with the UEFA Cup place going to the teams of the national leagues.
Tbh, I think the only way it would work would be the following way...
Competing leagues. Belgium, Denmark, Norway, Sweden, Scotland, Portugal and the Netherlands.
Each nations Premier league is turned into a league of 8 teams, and a first division of 8 teams is created. They play each other twice, the top two teams enter the Atlantic league. Thats from say, August-November. Giving the teams 14 matches.
From January-May the 14 teams who qualify play each other twice. Thats a further 26 matches.
The top two divisions of the domestic leagues merge at this point and the non-qualifying teams play each other twice. That sorts out placings for the following season, and gives them 40 matches each. The bottom team of the non-qualifierws is relagated.
All qualifiers play in the Champions League, or if their national co-efficiant is not high enough, the UEFA Cup. The top team in each domestic league qualifies for the UEFA Cup.
TV Rights are sold as one package across europe. All teams play in their respective domestic cup tournaments.
That would narrow the gap in finance with the big five and satisfy both the national asocciations and the clubs. Is it at all possible?