Yesterday, the Evening Times revealed senior councillors had been looking at the possibility of a cable car running from Port Dundas to George Square.
Craigton councillor Alistair Watson claimed the unusual transport system would be a big attraction and would boost tourism.
But a source close to council leader Gordon Matheson has insisted the plan will never get off the ground.
He said: "This idea is a complete non-starter.
"It was only ever a suggestion and isn't being taken seriously – we can say for definite that we will not be building a cable car system in Glasgow."
It is understood the route being looked at would have linked the new water sports centre at Port Dundas with George Square, stopping at Buchanan Street bus station.
The project is similar to one being tested now over the River Thames in London, linking the Greenwich Peninsula with the Royal Docks.
It is understood both the public and private sector – including Sports Scotland – were to be approached for funding.
Mr Watson had claimed the cable car would provide a direct link to the proposed water sports centre and a welcome addition to the north side of the city.
He said before the announcement that the plan is to be scrapped: "It will also boost tourism and become a focal point of George Square.
"The capital outlay will probably be in excess of £10m but the running costs would be relatively small.
"Port Dundas is one of the highest points in the city centre and gravity will play a big part in the operation of it.
"Unfortunately, it will not be up and running in time for the Commonwealth Games but this is a long-term project.
"It is certainly not a pie-in-the-sky idea and we are hopeful we can progress with more detailed plans later this year."
Graeme Hendry, SNP group leader on the city council, welcomed the announcement that the cable car plan will not be pursued.
He said: "I suspect the public will not be surprised.
"It is important Glasgow focuses on regeneration projects that have the ability to provide growth for the city rather than getting distracted by pie-in-the sky ideas."