And Archie Fraser, the former chief of the A-League who also spent time as chief executive of AFL club St Kilda, has been announced as the inaugural CEO.

At war with the governing body for professional football in Australia in recent weeks, Palmer's Gold Coast United club was dumped from the A-League on Wednesday afternoon.

Palmer reacted by calling FFA chairman Frank Lowy a 'dictator' on Twitter, and followed up by saying Lowy is 'an institution who now belongs in an institution'.

And now on Thursday he has revealed he has set up Football Australia, which will be an independent body aimed at overseeing football at the grassroots and senior level, with the slogan "We Kick Harder".

FA's charter will revolve around 'transparency and fairness' and aim to take over from FFA, which he said has been incompetent at both the domestic and international level.

More to follow...