“The value of the licence has been the thing keeping a lot of clubs going, thinking they had this asset that is attractive and saleable at some point.

“The fact is their asset has only got worth if they’ve got competitors in the A-League.

“If three or four of the clubs decide, ‘That’s enough, I’m not topping it up any more’, then all of a sudden, I don’t think there’s going to be an appetite for five new licences at $15m each.”

PLUS...

FFA boss unsure of A-League clubs' futures

FFA chief executive James Johnson has admitted it's too early to say if all 11 existing A-League clubs will survive the COVID-19 pandemic.

He also fears the owners of Macarthur may pull the plug on joining the league too.

“They have some decisions to make,” said Fraser. “They have a substantial payment due in July.

“The board are probably asking the question, ‘Are we going to pay this and why are we going to pay this?’

“There’s no guarantee of a TV deal, no guarantee of a league - so you’d think they’ll sit back and see who starts up again and who walks away.”

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But Fraser sees the crisis as an chance for a reboot of the top tier and reunite old and new football on a national stage.

“There’s enough people thinking that it’s a generational opportunity to reset things for the good of the game, rather than the good of different groups or states or whatever…” said Fraser.

“Whatever your agenda has been, I think it’s time we think about what can we all do to have football come out of this at the other end?

“We're fortunate the work that's been done in preparation of the Second Division.

“I think existing clubs that put forward their intention to play in a second division could potentially become a new first division so that at least we have some content.”

But he also sees a chance to overhaul the way the sport is broadcast too, with the need to get away from relying on a single TV company for income.