England's slump in form could threaten the ICC World Test Championship due to be staged in 2017.
The International Cricket Council launched the test championship in October, with Dave Richardson, the chief executive, saying it would "preserve the primacy of tests".
The first competition is scheduled to be held in England with a prize pool of around 5 million ($10 million) and is due to be part of the ICC's offering to broadcasters next year when it begins formally to negotiate an eight-year rights deal to run from 2016-2023.
But it is understood initial talks with broadcasters have revealed little appetite for the competition, which is due to replace the Champions Trophy one-day tournament.
The ICC's finance and commercial affairs committee met in Perth last week and is in the process of conducting a financial study into the viability of a test championship as opposed to the Champions Trophy.