JACKSONVILLE, Fla. (The Blaze/AP) — The billionaire said to be weighing a proposal to resurrect incendiary comments by President Barack Obama’s former pastor shelved the idea Thursday after Obama and Republican presidential challenger Mitt Romney denounced the tactic.

Joe Ricketts Repudiates Plan to Use Rev. Wright Sermons Against Obama

A screen shot from the "The Defeat of Barack Hussein Obama" plan

An aide to Joe Ricketts, founder of TD Ameritrade, said the proposal to draw the Rev. Jeremiah Wright into the presidential campaign — and the issue of race, by extension — went too far.

(Related: ‘Church Was Not Their Thing’: New Audio From Rev. Wright’s Shocking Interview With Obama Book Author Ed Klein)

The New York Times reported Thursday that Ricketts’ Ending Spending Action Fund, a conservative super PAC, was considering a proposal for a $10 million TV ad campaign highlighting Wright’s sermons. The original Times report read, in part:

Timed to upend the Democratic National Convention in September, the plan would “do exactly what John McCain would not let us do,” the strategists wrote.

The plan, which is awaiting approval, calls for running commercials linking Mr. Obama to incendiary comments by his former spiritual adviser, the Rev. Jeremiah A. Wright Jr., whose race-related sermons made him a highly charged figure in the 2008 campaign.

“The world is about to see Jeremiah Wright and understand his influence on Barack Obama for the first time in a big, attention-arresting way,” says the proposal, which was overseen by Fred Davis and commissioned by Joe Ricketts, the founder of the brokerage firm TD Ameritrade. Mr. Ricketts is increasingly putting his fortune to work in conservative politics.

Joe Ricketts Repudiates Plan to Use Rev. Wright Sermons Against Obama

A screen shot from the "The Defeat of Barack Hussein Obama" plan

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 whom confirmed its contents for The Associated Press on condition of anonymity to discuss private working sessions.

The document also suggested hiring a spokesperson who is an “extremely literate conservative African-American” who would be able to argue that Obama presented himself as a “metrosexual, black Abe Lincoln,” The New York Times reports. BuzzFeed decided to have a little PhotoShop fun to showcase what, exactly, a metrosexual Lincoln would look like:

Joe Ricketts Repudiates Plan to Use Rev. Wright Sermons Against Obama

Brian Baker, president of the super PAC, said Ricketts was not the author of the 54-page plan (see it here). Baker blamed consultants.

“Not only was this plan merely a proposal — one of several submitted to the Ending Spending Action Fund by third-party vendors — but it reflects an approach to politics that Mr. Ricketts rejects and it was never a plan to be accepted but only a suggestion for a direction to take,” Baker said in a written statement.

Joe Ricketts Repudiates Plan to Use Rev. Wright Sermons Against Obama

A screen shot from the "The Defeat of Barack Hussein Obama" plan

Romney had urged the independent group, which favors his candidacy, to abandon the Wright strategy and to focus instead on his bedrock issue, the economy.

“I repudiate the effort by that PAC to promote an ad strategy of the nature they’ve described,” Romney told the conservative website Townhall.com. “I would like to see this campaign focus on the economy, on getting people back to work, on seeing rising incomes and growing prosperity – particularly for those in the middle class of America.”

Listen to Romney’s statement, below:

Obama campaign manager Jim Messina criticized the plan as a “campaign of character assassination” and accused Romney “reacting tepidly in a moment that required moral leadership in standing up to the very extreme wing of his own party.”

Messina noted that Republican Sen. John McCain, Obama’s opponent in the 2008 presidential race, had rejected using Wright and Wright’s sermons against Obama.

Messina commented before Romney’s interview with Townhall.com, and issued no comment after Romney urged Ricketts’ group to abandon the effort.

McCain made clear four years ago that he wanted to challenge Obama on his record, not on the words or deeds of those around him, and forbade adviser Fred Davis from incorporating Wright into their advertising plans.

Joe Ricketts Repudiates Plan to Use Rev. Wright Sermons Against Obama

A screen shot from the "The Defeat of Barack Hussein Obama" plan

But Davis, a colorful Hollywood consultant, clearly wanted another chance to go use the strategy against Obama.

Davis’ firm said in a statement Thursday that the document — which called for “hitting Barack right between the eyes” — was only a proposal and did not win Ricketts’ approval.

Wright became a problem for Obama during the 2008 presidential campaign when videos of the pastor’s sermons surfaced. In a 2003 sermon, Wright said black people should condemn the United States.

Joe Ricketts Repudiates Plan to Use Rev. Wright Sermons Against Obama

A screen shot from the "The Defeat of Barack Hussein Obama" plan

“The government gives them the drugs, builds bigger prisons, passes a three-strike law and then wants us to sing `God Bless America.’ No, no, no, God damn America, that’s in the Bible for killing innocent people,” Wright said at the time. “God damn America for treating our citizens as less than human. God damn America for as long as she acts like she is God and she is supreme.”

Wright, who preached at the Chicago church Obama once attended, became such a distraction for Obama that he ended up delivering a major speech on race relations to try to quell the controversy. He also severed his ties to Wright.

For his part, Arizona Sen. McCain said he had no regrets over his handling of the Wright issue.

“I remain proud of our campaign and proud of what we were able to accomplish, and I would do it over again,” McCain told reporters Thursday at the Capitol. He said the matter seemed dead after Romney repudiated the proposal.

Joe Ricketts Repudiates Plan to Use Rev. Wright Sermons Against Obama

A screen shot from the "The Defeat of Barack Hussein Obama" plan

He shrugged when asked whether independent groups should take up matters such as Wright’s remarks.

“It’s a way for political operatives to continue to make money,” McCain said.

Another top Republican, House Speaker John Boehner, of Ohio, declined to be drawn into the debate.

“This election is going to be about the economy,” he said when reporters asked him to react to the proposed ad campaign. “I don’t know what these other people do or why they do it.”

Ricketts is the founder of Nebraska-based TD Ameritrade Securities and owner of the Chicago Cubs baseball team. He has been active in conservative politics for years, most recently in Republican Deb Fischer’s upset win this week in the Republican Senate primary in Nebraska.