Lowy must nominate himself for re-election by September 30 if he is to continue in the role he inherited from his father Frank Lowy three years ago

But insiders claim that by threatening to stand down, Lowy is actually turning the full focus of the governance reforms on himself and telling stakeholders to back him or see him leave...and beware what would replace him.

It is, they say, a case of high stakes brinksmanship - and calling the bluff of state federations who have stood up to the FFA.

In his statement today, he even warned: "Be careful what you wish for."

Lowy insists the reforms proposed by the FIFA-instigated Congress Review Working Group would be detrimental to Australian football and hand power to clubs and "foreign controlling interests",

He added: "We welcome foreign investment in our league. It is more than welcome – it is crucial.

"But when it comes to the whole of our game it should not be controlled by foreign interests."

However the CRWG report actually recommends the state federations – representing grassroots football nationwide – retain a 55% voting majority, no matter who owned the A-League clubs.

The two main pillars of the CRWG's report were dramatically opening up the FFA Congress – which controls who is on the FFA Board – to give A-League clubs, professional footballers and women players more of a say.

It would also provide a pathway for more groups like fans and NPL clubs to join within a few years.

The report also proposed the A-League was spun off into an independent entity in time for the start of the 2019/20 season, in a move which echoed the government-instigated Crawford Report from the start of the century.

But despite two official reports proposing the same thing, the FFA has repeatedly blocked the move.

Today Lowy insisted the FFA knew better and told FourFourTwo: "A report is just a report."