Ryan Giggs and Tony Pulis are among the leading candidates to take over from Chris Coleman as Wales began the search for a new manager.
Coleman has left his role with the national team to take on the job of rescuing Sunderland who are rock bottom of the Championship.
The 47-year-old will reportedly earn around £1m a year with the Black Cats – a figure Wales could not match.
Coleman took over in tragic circumstances following the death of Gary Speed in 2012 and in a memorable five-year spell took Wales to the semi-finals of Euro 2016.
FAW chief executive Jonathan Ford said: “We are extremely disappointed to see Chris’ tenure as Wales manager come to an end.
“The FAW and Wales as a nation will be eternally grateful for the job he has done over the last six years as national team manager, from travelling the length and breadth of Wales outside of the media spotlight to talk to players and supporters, to guiding us to the semi-finals of the European Championships.
“We wish Chris the very best of luck for the future as he returns to club management, a desire for which he has always been honest and open about.”
The FAW is understood to have significantly improved it’s offer to Coleman in a bid to keep him.
And it agreed to his requests for upgrades to their training base and full-time contracts to back room staff – head of performance Ryland Morgans and psychologist Ian Mitchell.
But that could not stop the ex-left-back leaving to return to day-to-day management with No 2 Kit Symons also leaving and set to join him at the Stadium of Light.
Coleman succeeds Simon Grayson who was axed after 18 games in charge.
Having missed out on qualification for the 2018 World Cup after defeat to the Republic of Ireland, Coleman’s last game in charge proved to be the friendly draw with Panama.
There will be strong calls for ex-Manchester United player Giggs to take over despite his lack of managerial experience.
Pulis, currently in a difficult spell at West Brom, has also been mentioned.
Other names that could come under consideration are Dean Saunders and Carl Robinson who is currently in charge of Vancouver Whitecaps.