A senior Board official even highlighted the possibility of not letting India play in the ICC Champions Trophy 2017.
The next SGM will decide India's chances of playing in the Champions Trophy.
In a massive blow to its influence in the International Cricket Council, the BCCI was on Wednesday decimated at the global body's Board Meeting where the majority voted for a change in governance and revenue structures.
On the first day of the ICC Board Meeting in Dubai, both the change in governance structure as well as the revamped revenue model were put to a floor test.
BCCI lost the vote on 'governance and constitutional changes' by a 1-9 margin while the revenue model, which was the bigger bone of contention, saw India getting walloped by a 2-8 margin. The only country that voted alongside BCCI was Sri Lanka.
"Yes, the votings are over. It was 8-2 in favour of revamped revenue model and 9-1 in favour of constitutional changes," a senior BCCI functionary present in Dubai told PTI on Wednesday.
It was learnt that since BCCI outrightly rejected the additional $ 100 million pay-out in revenue, it was once again given the original option of $ 290 million which is a $ 280 million cut from the $ 570 million India had been getting until last year.
A senior Board official even highlighted the possibility of not letting India play in the ICC Champions Trophy 2017, which is scheduled to take place in England and Wales from June 1. The next SGM will decide India's chances of playing in the Champions Trophy.
"Until yesterday, the idea of pulling out of the Champions Trophy wasn't such a realistic one. But 24 hours is a long time. Going by what happened today, the ICC has clearly and abrasively breached the contract that it has signed with the BCCI, which is the MPA," a senior cricket administrator was quoted as saying by The Times of India.
"Let India not play this tournament as a protest and then let's see how many ICC members still like the idea of going ahead with the policy changes. Someone has to call their bluff."
Last Updated 6:36 PM IST