As well as generating more money for football in Wales and raising the profile of the domestic game, the FAW hopes that Premier League clubs representing Wales in European competition will improve the country's poor UEFA coefficient rating, which currently ranks 49th out of 55.
Welsh teams tend to struggle in Europe, but in this season's European Conference League, the Cymru Premier League champions became the first team from the Welsh pyramid to qualify for the group stage of a major European competition.
The FAW believes that Cardiff, Swansea, Wrexham and Newport will improve Wales' performance in Europe, and will receive more prize money from UEFA which will then be redistributed in Wales.
Cymru Premier Clubs, who will maintain Wales' path to Champions League and Europa League qualification, are “unanimously” backing Prosiect Cymru and will benefit from cup ties against their Premier League rivals.
And for the Premier League clubs themselves, there will be an obvious appeal to playing in Europe again, three decades after Wrexham were the last team to qualify via the domestic route when they played in the 1995-96 European Cup Winners' Cup.
Welsh clubs in the Premier League used to qualify via the Welsh Cup and all four clubs have achieved notable European results. Cardiff beat Real Madrid in the European Cup Winners' Cup in 1971, Wrexham beat Porto in the same competition in 1984, Newport reached the quarter-finals of the European Cup Winners' Cup in 1981, while Swansea beat Valencia in a Europa League match in 2013.
“It's a game-changer for Welsh football,” Noel Mooney, chief executive of the Welsh Football Association, told BBC Sport Wales. “This is really changing the revenues of Welsh football.
“It's about improving Wales and improving Welsh football. I have to thank the four top-ranked clubs in the English system for understanding that we need the resources. We need better grassroots facilities and investment in women's football.
“If people object to that idea, I really think they're holding Wales back. And why would you want to hold Wales back? What would be the motivation for someone to hold back Wales as a country trying to get back on its feet as an independent nation?” Football nation?
