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Agnelli, who is the chairman of Italian soccer team Juventus, is blaming the intervention of politicians for the effort's downfall.
European headlines have been dominated by the Super League story this week, after twelve leading teams from England, Italy, and Spain announced the breakaway league on Sunday. Intense criticism from fans and politicians followed. British Prime Minister Boris Johnson had threatened legislation to stop it.
Asked whether the project could still happen following the departures, Agnelli told Reuters: "To be frank and honest no, evidently that is not the case."
He says he remains convinced that European football needs change, and has no regrets about the failed attempt.