This paper reports on research that explored the experiences of secondary Physical Education Teacher Education (PETE) professionals' simultaneous negotiation and implementation of the new Curriculum for Wales (CfW) Health and Well-Being (HWB) Area of Learning and Experience (AoLE) and policies focused on the transformation of Initial Teacher Education (ITE) in Wales. The study was an exploratory case study of PETE professionals working within one university's ITE programme. Data were generated through documentary analysis of PETE and ITE programme materials and semi-structured interviews with staff involved in programme management and delivery. Data analysis employed Ball and colleagues' conceptualisation of policy actors and contexts to critically examine the varied policy positions that PETE professionals adopt in navigating and negotiating enactment of the HWB AoLE within their ITE provision. Attention is drawn to the significance of historical and culturally situated dimensions of secondary physical education and PETE in Wales, and significant changes to the professional culture of ITE, in shaping PETE educators' engagement with the HWB AoLE. The paper concludes by contending that ITE institutions in Wales need to further consider how PETE (and other) educators can be actively supported to engage in sophisticated policy work within their institutions and across policy and professional networks.