"I hope for the best but clearly I fear for the worst," Lowy said after the vote.ย "We believe the loser today is the principle of independent governance.

"This is an issue that the FFA board has been fighting for all through this. It has had a set of principles that it stuck to and it stuck to those principles, up until the last minute."

He added: "I understand why a number of the members were fatigued through the process and the ongoing debate, but it certainly was a debate worth having.

"It's a principle worth fighting for, right down to the wire. The implication of today's decisions will be played out over time.

"And we will have to see exactly how it does play out and over what period of time."

Lowy highlighted the successes of the board under the old FFA, including taking the Socceroos to four World Cup, elevating women's football and a record TV deal for the A-League.

But he added: "I don't need to revisit my fears for the game today. They are clearly well-known to you.

"Suffice to say that our game today has crossed a red line, from a corporate governance model for football to one with stakeholders where vested interests will compete for power and resources, as opposed to these being decided by independent members of the board.

"As I said a few weeks ago, this is a governance regime that I choose not to serve on. And I reiterate that I will not offer myself for re-election at the upcoming AGM."

Although Lowy said he would not be standing for re-election as chairman, he said a decision of the future of other board members had yet to be made.

But he threw his weight behind David Gallop continuing in his role as FFA CEO.

"David Gallop is one of the most experienced and best sports administrators in the country," said Lowy. "David has a contract which runs for a period of time.

"We hope deeply that David chooses to do that and then the board chooses to work with David and his senior team.

"I have enormous experience in the international business world with Westfield and seen executives around the world and I would put David ย and his senior team right up there with the best."