Speaking at the FFA's annual general meeting today, marking the organisation's fifth birthday, Lowy said: “I am sure you all know I have said before that my vision is to see us host, and play in the final of, the 2018 FIFA World Cup here in Australia.

“To achieve this, it is vital that we get the structure of football right to build for the future.”

Australia will face stiff competition from the likes of England and possibly the USA for the 2018 tournament.

As for the 2010 tournament, Mr Lowy was feeling optimistic about qualification for South Africa.

He said: "We will leave no stone unturned in achieving this goal."

Australia currently sit top of their group with five games to go.

“While we are quietly confident of qualifying from this point, as football fans, we take nothing for granted," said Mr Lowy.

A new national charter of football development is to be introduced between FFA and the State and Territory football federations which takes account of the entire football community that also includes A-League clubs, the estimated 1,000,000 people who play the game and supporters.

"The Charter involves all of us in partnership.

"It will help us deliver the important strategic and evolutionary reforms of the National Football Development Plan.

“More than anything, it is important that we provide a consistent approach to football development throughout Australia.

“So regardless of whether a young player lives in Broome, Bamaga, Byron Bay or Beaconsfield, they can develop their skills and have the opportunity to become a Socceroo or a Matilda," said Mr Lowy.

On the financial front, the FFA announced a modest operating surplus for the financial year of almost $1 million, prior to receipt of the Special Purpose Grant provided by the Federal Government.

The grant supports the implementation of FFA’s national football development plan and participation of the nine national teams in Asian Football Confederation competition.

This compares to revenue of under $14m five years ago and an operating deficit of $4m.

Summing up, Mr Lowy said: "It has been a remarkable journey so far but there is still a way to go."