The possibility of Rangers and their Glasgow rivals Celtic moving south has long been mooted, but a Premier League statement in 2009 said that "bringing Celtic and Rangers into any form of Premier League set-up was not desirable or viable". However, Whyte is still optimistic that it could happen.
"We are in Scottish football so it is not a viable proposition to go put £100m into the team. If we went forward into another league set-up, say the English Premier League, then it is very viable to put £100m more in," Whyte told The Telegraph. "We are not there at the moment, but we would like to be."
The businessman also suggested that if a switch to England's top division were not possible, then another league could be created with other European clubs.
"[Joining the Premier League] is clearly something that we would like to see examined, it is something we are working on behind the scenes, but there are other potential ideas in terms of European leagues, joining some of the Nordic countries, the Netherlands to create a league."
The Gers, who are currently top of the SPL, entertain Hibernian at Ibrox on Saturday.