"The first reaction is obviously one of disappointment," Pragnell told the Herald on Sunday. "These fixtures are huge for the entire sporting community and for the country.
"We've been on a thin diet of trying to get games home and this one was looking to be the first so to lose that is really disappointing, for the fans and the team.
"It [also] has potential financial implications for the organisation and that's significant. But we have to roll with the punches."
Aside from ticketing revenue from a sold-out stadium, NZF banked an estimated $6 million from the sale of broadcast rights to the Mexico game in 2013, while the home Peru match four years later generated a seven-figure sum.
"[The potential impact] is hard to gauge at this stage because the major variable is the opposition," said Pragnell. "Obviously there's a loss of content in terms of a potential sell-out home match, with broadcast rights - that has gone.
"There's no escaping that but the biggest variable in the overall potential revenue impact is the opposition and broadcast implications around that."
NZF will "immediately" initiate discussions with FIFA around the television rights for those games, should New Zealand be involved.
"We are not taking it for granted that we are there," said Pragnell. "But certainly with the confederations, everyone needs to understand that whatever member associations are playing, there has to be some sort of model for distribution back to them as the primary participants."
The balance sheet could take a hit, though Pragnell emphasised that NZF has evolved significantly over the last decade and diversified its revenue streams, which would soften the potential blow.
"At one stage, we were pretty dependent on this game for sole survival," said Pragnell. "[But] we've built a bit of robustness about how we run the organisation [so] it's not cataclysmic in terms of its impact, but it's definitely challenging."
Overall Pragnell is determined to find positives. First, NZF finally has clarity on the World Cup pathways – after a long wait – and can plan accordingly.
There's also now the possibility of extra games for the All Whites in the June international window (May 30-June 14), should they progress from Oceania, with the playoff games scheduled for June 13 and 14.
"We should be able to put two more fixtures in at the front end of the window," said Pragnell. "More fixtures against high-quality opposition is only going to help us in terms of preparation."
NZF would also look to stage matches in New Zealand next September, in the event that the All Whites reach, then emerge victorious from, the Intercontinental playoff.
"I know Kiwi fans would come out to see an All Whites team en route to a World Cup," said Pragnell. "We've just got to make it happen."
The playoffs will involve the fifth-ranked teams from Asia and South America, the fourth-best CONCACAF side and the top Oceania qualifier. The draw to decide the pairings will be made next Friday (Saturday 5am NZT) in Zurich
