Adelaide United, last year's Asian Champions League finalists, handing over ownership of the club to the national body on Friday because of financial problems.
The FFA agreed to take over the running of Adelaide after the owner Nick Bianco announced in February he was withdrawing his investment due to external business reasons.
FFA chief executive Ben Buckley said the governing body had agreed to the bailout to ensure the survival of Adelaide but eventually hoped to find a new owner.
"We will ensure the club continues to have a strong presence in the competition now and into the future," Buckley said in a statement on Friday.
"We are confident that a suitable new owner for the club will be found, but we are also prepared to wait for the right new owner or owners."
Adelaide joined the Queensland-based Brisbane Roar as the second of the eight foundation A-League teams to hand over their running to the FFA in the past month.
You must keep in mind that Soccer in Australia has been historically in a tough fight against cricket, the two rugby codes, and Australian Rules Football.
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