Ferrycarrig Park has been the home of Wexford Youths FC since they entered the SSE Airtricity League in 2007.
It had been under receivership, but the FAI have announced this afternoon that the future of the ground has been secured and will remain in football
Under the new deal, the ground will be jointly owned by the FAI as well as the Wexford Football League, with Wexford Youths continuing to use the facility for SSE Airtricity League, SSE Airtricity underage league games and FAI Continental Tyres Women's National League fixtures.
The news will come as a huge boost to Wexford Youths, following their promotion to the SSE Airtricity League Premier Division for the coming season.
FAI CEO John Delaney commented today: "This transaction was very important to ensure Wexford football continues to have a home and a focal point for the game in the South East.
"It was a matter of priority for the FAI to ensure that the facility was not lost to football and I am very pleased that the steps we have taken will ensure that our game can continue to flourish in Wexford
"The popularity of football in Wexford is unquestioned and many years of hard work, from many people in the football community in the region, has led to the emergence of Wexford Youths as an SSE Airtricity League club who of course are looking forward to their first season as a Premier Division side this year."