The ground, formerly owned by Mick Wallace, had been in the control of receivers
The FAI have confirmed a deal to buy Ferrycarrig Park, the home of Wexford Youths.
The ground will be owned jointly by the FAI and the Wexford Football League after a deal was agreed to buy the premises from the receivers that had been appointed to the properties of Mick Wallace.
In a statement announcing the deal, FAI CEO John Delaney said "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".
Image: ©INPHO/Ryan Byrne
Chairman of the club Mick Wallace, who owned and developed the ground, added "it's certainly a good day for football in Ireland, now that the Wexford Youths Football Complex is assured of staying in football.
"The Wexford Youths are now a well-established integral part of community life in Wexford and the south east region and today's announcement has to be good news for all concerned".
Wexford Youths, who entered the SSE Airtricity League in 2007 and won promotion to the Premier Division by finishing top of the table in the First Division last season, will continue to use the ground for SSE Airtricity League, SSE Airtricity underage league games and FAI Continental Tyres Women's National League fixtures.