Ireland could secure automatic qualification to Euro 2028 if the bid is successful.
The joint Irish-British venture is the clear favourite to host the finals ahead of Turkey, who are also chasing Euro 2032.
But the Republic of Ireland, Northern Ireland, England, Scotland and Wales won’t all receive automatic places.
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UEFA have reserved two host spots for previous European Championships and this will be considered again, with England front runners as the country staging the most games.
But there is growing optimism within FAI circles that the Republic of Ireland could secure the other.
10 stadiums are required from across the five associations, with 51 matches taking place in a four-week period.
Dublin hopes to stage up to eight games - including a quarter-final - with Aviva Stadium and Croke Park earmarked.
England is expected to provide at least five grounds while Scotland and Wales are set to have one apiece. So is Northern Ireland, although this is not yet certain.
UEFA intends ditching plans to expand Euro 2028 to 32 teams from 24 - and UEFA members endorsed that recommendation in Frankfurt over the weekend.
The FAI wants to stage at least a Euro 2028 quarter-final having had to relinquish Euro 2020 group and Last 16 games due to Covid.
With its 90,000-capacity, Wembley would be in line to host the semi-finals and finals of a successful bid.
Preliminary bid dossiers have to be submitted to UEFA tomorrow but FAI chiefs must wait until September 2023 to hear if the joint bid is successful.
Turkey has failed with its attempts to land some or all of the last five European Championships running.
And they are set to miss out again as the commercial clout of an Ireland-Britain bid will appeal far more to UEFA.
The FAI has already been accused of chasing a vanity project in trying to stage Euro 2028 when money could be spent on better aspects of Irish football.
But speaking in March, FAI chief executive Jonathan Hill said: “If successful, I would see this as a catalyst for real growth in the game up to the tournament and beyond.
“It would generate new monies that can help further investment across all aspects of Irish football, be it in facilities or coaching.”
