The governing body of Welsh football has been accused of sitting on millions of pounds in investments rather than using it to find the stars of the future.

An investigation by BBC Wales' Week In Week Out has revealed that the Football Association of Wales has invested millions in the stock market while grassroots clubs and youth teams are struggling to survive.

Not receiving anything is hard to swallow sometimes

Neville Southall, Wales under-19 coach

The FAW's last filed annual accounts reveal that, despite making a profit of �1.7m in June 2001, they gave just �75,000 to its charitable arm, the FAW Trust, which is responsible for developing youth football in Wales.

The programme's findings come on the eve of the national side's European Championship qualifier in Azerbaijan.

Capacity crowds

Capacity attendances in the Millennium Stadium for the last three home games, which included the historic 2-1 win over Italy, have brought an estimated �3m into the FAW's coffers.

Even before these games, the FAW had spent �2.5m on stock market investments.

The national side currently tops its qualifying group for Portugal 2004, but below the top level, many areas of Welsh football are struggling for money or success.

David Collins is approached by the BBC programme

Welsh goalkeeping legend Neville Southall, who now coaches the under-19 international squad, is among those who criticise the FAW for failing to provide a clear strategy or budget to develop the game.

He said: "If I was given everything I needed and I failed, then it's my fault, but if I am not given what I need and I fail, whose fault is that?

"Not receiving anything is hard to swallow sometimes.

"At under-19 level, we tend to play countries like Scotland and Northern Ireland all the time, instead of going on tours to places like South America or Eastern Europe where the players can really learn.

"It comes down to finances, but I have difficulty finding out exactly what is going on there."

Mark Hughes: Team has lifted Wales

FAW's general secretary David Collins declined to speak to the programme.

The investigation into the FAW's finances comes just a week after the Welsh Assembly Government announced a �1.3m grant to develop youth football and coaching in Wales.

The money is to be aimed at areas recommended by the Football Forum, which was set up by Welsh Assembly Sports Minister Jenny Randerson last year.

The forum's report has called for more coaches, bringing more girls into football and improving the scouting of talented players.

Speaking at the announcement of the extra funding, Jenny Randerson said: "We need to support our talented young players to make sure we create more players like Ryan Giggs and Craig Bellamy in the future."

Week In Week Out, BBC1 Wales, 22.35 BST, Tuesday, 19 November.