Seeing CSA's fate as they tried to take BCCI head on and what happened to ECB few years ago, its clear that no one board is able to tangle with BCCI. So the rest of the boards have to work together to introduce any change to the status quo.
Option 1: Boycott BCCI and kick them out of ICC. Not really an option as observed by CSA current quandary. It will be case of, surgery is a success, but the patient is dead.
Option 2: Implement Woolf report w/o involvement of BCCI. Pool all the revenues besides BCCI's share, distribute it equally among the members. This creates an even playing field for the rest of the members and eliminates their need to dance to BCCI's tune. This will allow the game to become more popular and grow the revenue from the increased popularity and it become a true world wide game. this will also eliminate BCCI's hegemony.
Of course, this will mean some short term pain for some of the boards, but it will be a small price to pay for their stated long term goal, i.e., betterment of the sport of cricket. As the say charity begins at home and its about time, the old powers of cricket showed some real leadership instead of paying lip service.
will this happen anytime soon?