The Mirror reports Plant reportedly ripped up Branson's contract for 35 dates in three cities - London, Berlin and in New Jersey - in front of promoters after the other members of the band had signed on to green light the project.

The group were also promised �70million of the profit from merchandise and there was an option to do 45 additional shows in five venues. The offer was to be split three ways between Plant, Jimmy Page and John Paul Jones, while Jason Bonham - son of late drummer John - would have been paid a wage to perform.

"Jimmy, John and Jason signed up immediately," said a source. "It was a no-brainer for them but Robert asked for 48 hours to think about it. When he said no and ripped up the paperwork he had been given, there was an enormous sense of shock. There is no way they can go ahead without him."