Mr Conway is due to address FAI members regarding the decision on December 29.

Mr Conway was re-elected to the role of president in July, following an unopposed run. He said at the time that he intends to step down after a year and in the meantime wishes to help the new board restore confidence in the association.

Before Mr Conway's re-election, Sports Minister Shane Ross

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In a letter directly to Mr Conway, Mr Ross raised serious concerns that the senior official has been put forward as the only presidential candidate.

The FAI said in a statement today that the board will be seeking nominations for the vacant position later this month.

"In accordance with FAI Rules, where a casual vacancy arises, the Board shall seek nominations for the vacant position, on such terms and subject to such conditions as it may consider appropriate and shall call an EGM within 30 days of the vacancy occurring to elect a replacement officer for the balance of the term of office remaining," the statement read.

"The Association shall seek nominations after the 29th December for the position of President of the FAI.

"Any person who is a serving member of Council and who has been a member of Council for two years, which service need not have been consecutive, shall be eligible to be elected as President of the FAI."

The news comes as the FAI is expected to reveal that they are €55 million in debt later today.

The association is to publish its accounts for 2018, as well as the revised figures for 2017 and 2016 today.