Wexford Youths FC, the new national league entity fronted by construction magnate Mick Wallace,  received a First Division playing license today.

The FAI's First Instance Committee finalised details of the application late last night and the club received official confirmation this morning.

The club becomes the only national league outfit in the region and fills a void left by Dublin City FC who folded last season due to financial difficulties.

"It will be an incredible boost for soccer in the area," Wallace said.

"We are very much a community based team and will be run differently than any League of Ireland club has ever been run."

"Not all the news coming out of the league recently has been positive. We could help make things better if we get to prove what we're all about. We could set an example to the rest of the country given the opportunity."

The presence of Wexford Youth FC will greatly enhance the First Division, according to League of Ireland director Fran Gavin.

"With Wexford Youths we are bringing League of Ireland football to a new corner of the country so it is going to be an exciting time, especially in the south-east," he said.

Wallace is credited as the driving force behind football in the county and, indeed, for bringing current Republic of Ireland and Reading striker Kevin Doyle to prominence.

He guided Doyle through underage teams in Wexford and, after time, introduced the striker to his friend and then St Patrick's Athletic manager Pat Dolan. The rest, they say, is history.

The club is located just outside Wexford Town and boasts modern facilities on a 14-acre site bought by Wallace almost five years ago. Two state-of-the-art outdoor pitches, two artificial surfaces and a large indoor complex grace the site.

But Wallace warns his team will not be an overnight success.

"Just give us time and we'll do OK at senior level but we'll need time to find our feet," he said.

"In the first season we'll do well to stay off the bottom. We don't expect miracles overnight and it will probably be our third year before me make an impact on the table."

Pre-season training has already started and Wallace is currently working with a panel of 31 local players. He will manage the team himself but Dolan - now a television presenter and analyst - will offer coaching assistance.

The FAI had hoped to install a new team last month but that process was delayed after Limerick FC challenged the association's decision not to grant the club a First Division license.

Limerick FC secured a High Court injunction to prevent new licenses being handed out, thus delaying Wexford Youths application.

But a High Court ruling last week upheld the FAI's decision not to grant Danny Drew's club a permit, and new entity Limerick 37 are now hopeful of securing their own playing license in the coming days.

The FAI's Licensing Department is working "flat out" to process this application "as quickly as possible".