The FA ‘agrees to sell Wembley to Shahid Khan for £600m’
The Football Association has agreed to sell Wembley to Fulham and Jacksonville Jaguars owner Shahid Khan for £600m, according to the Financial Times.
The Pakistani-American businessman has been in talks to buy the national stadium since April, and an ‘outline’ deal has now been agreed.
The proposal will now have to be approved by The FA’s 10-member board at a meeting on Thursday.
If the board backs Khan’s purchase, the deal will be presented to a meeting of The FA’s 127-member council at a meeting next month.
In April, Khan said he wanted to buy Wembley to strengthen the Jaguars’ presence in London „at a time when other NFL teams are understandably becoming more interested in this great city“.
The FA says the money raised from the sale of the stadium would be invested into grassroots football, with one source telling Sky Sports News in April: „If we are ever to have the chance to change the face of football in this country, this offer could make that happen.“
If Khan does buy Wembley, England’s home international fixtures will still be played at the ground, as will cup and play-off finals.
The deal would not affect Craven Cottage’s status as Fulham’s home ground, nor would it prevent the club’s plans to develop their stadium and training ground from going ahead.
If the sale does happen, the FA will keep their headquarters at Wembley – rent free – and also keep the Club Wembley hospitality business.
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