JACKSONVILLE, Fla. (AP) -- An aide to the billionaire whom political advisers say wanted to fund TV ads about President Barack Obama's former pastor says the $10 million proposal will not go forward.

The New York Times reported Thursday that a group tied to TD Ameritrade founder Joe Ricketts was considering an ad campaign featuring Jeremiah Wright's incendiary sermons.

But an aide to Ricketts issued a statement later in the day saying the proposal would not be implemented.

The blueprint, titled "The Defeat of Barack Hussein Obama: the Ricketts Plan to End His Spending For Good," was devised by a group of Republican strategists.

One of those strategists confirmed details of the plan for The Associated Press on condition of anonymity to discuss private working sessions.

AP-WF-05-17-12 1702GMT