PSL chairman Irvin Khoza made the announcement at a press briefing following an extraordinary Board of Governors meeting in Johannesburg on Tuesday.
ICASA intend to amend its public broadcast regulations by including all national football – including Bafana Bafana and other national teams – under its framework that regulates the free-to-air rights of sports in the country.
This would see the PSL forfeit their ability to independently sell the broadcast rights to the likes of SuperSport International and the South African Broadcasting Corporation (SABC).
Khoza said this could cripple the PSL with a potential loss of up to 80 percent of its annual revenue and, as a result, lead to the collapse of the organisation and its member clubs, who are dependant on such income.
ICASA initially set a deadline for submissions on its proposed amendments for February 2019, but federations have since been afforded until March this year to put forward their arguments.