Noel Gallagher's departure from Oasis has been described as a "sad day" for music by the man who originally signed the band.
Alan McGee, the founder of Creation Records, attributed the split to a "change of consciousness" that meant money was no longer enough to motivate people.
He described the split as "the end of the age of materialism".
He said: "People don't do things for money any more. I know how much money Oasis were making from their tour - you could buy two very good football strikers with that amount. But it's very hard for someone to do what they really don't want to do."
But, he added, Noel's walkout was a "really, really sad day".
The bust-up is the brothers' most serious one to date, he said, but he predicted that they may tour together again in about five years' time.
He said: "I think this is pretty major. Noel's a proud person, he won't go back on it. And he knows he could make a successful solo album. He's a masterclass craftsman and could go and become Neil Young for a generation. Liam too could become the John Lennon of his generation."
But for all their fighting, deep down the pair still love each other, he said.
Mr McGee signed the band in 1993 after seeing them perform in his native Glasgow.
In a statement on the band's website last night Noel said: "It's with some sadness and great relief to tell you that I quit Oasis tonight. People will write and say what they like, but I simply could not go on working with Liam a day longer. Apologies to all the people who bought tickets for the shows in Paris, Konstanz and Milan."
