The Football Association of Wales has held talks over a potential home nations bid for the 2030 World Cup.
FAW chief executive Jonathan Ford believes the joint proposal would be "strong and compelling".
Discussions are ongoing and no decision on whether to press ahead with plans will be made until "well into 2019", but Ford confirmed there is set to be a feasibility study into the prospect.
Uefa has previously said it would "strongly support" such a bid.
A Downing Street spokesman has also said the UK government would be supportive of a bid involving the home nations.
"This is something that has come up in conversation and it is something we are looking into," Ford told BSports Wales.
"It's no more than that and there's going to be no news until at least midway through 2019.
"But there is going to be a little bit of a feasibility study to see whether or not a UK-wide bid, a home nations bid or similar, would be a powerful, strong bid.
"Personally, I think it would be and I think, should we go forward at that stage - which, as I say, won't be determined until well into 2019 - I think we'd have a very strong and compelling bid.
"There's a long way to go on it but it could be 2030, Fifa World Cup in the home nations - what a fantastic opportunity that would be."
An English-led home nations bid for the 2030 World Cup was described in June as "definitely on the radar" by former Scottish FA boss Stewart Regan.
It came after Fifa vice-president David Gill said England should have "great confidence" in bidding for the 2030 tournament, having lost out to Russia for the right to host the 2018 tournament.
An SFA spokesman said in July it would be "open-minded" about a joint bid while, earlier this month, Northern Ireland manager Michael Hughes said hosting World Cup games at Windsor Park would be "huge" for the country.
Argentina, Uruguay and Paraguay have announced their plans to jointly bid for 2030 while Tunisia would be open to the idea of a North African bid along with Algeria and Morocco.
"The reality is for countries like Scotland, Wales, Northern Ireland, it's always going to be a case of having to do it in partnership with another, and the logical partner for us would be England," added Ford.
"You need a lot of stadia now; of course, the structure of the competition has changed - you need 16 40,000-seater stadia.
"Of course, we have a fantastic stadium with the Principality Stadium and we'd love to be there, but there's a lot of discussions to be had."
Asked whether the potential bid would include all four home nations, Ford said: "All of the discussions are still being had, so there's a lot of wait and see."