The sale of Wembley Stadium moves a step closer
The Football Association have reportedly agreed terms over the £600m sale of Wembley to Shahid Khan, owner of Fulham and NFL franchise, Jacksonville Jaguars.
Talks about the potential sale of the national stadium have been ongoing since April and The Financial Times now report that an agreement has been reached by both parties. The terms must now be approved at an FA board meeting, scheduled for Thursday.
Interestingly, English football’s governing body are said to have insisted on a number of conditions to the sale before arriving at an agreement with Khan. Three of these conditions have been reported:
- Wembley will continue to host major international and domestic matches.
- No sponsor will be allowed to gain naming rights to the stadium.
- The FA will also have ‘buy back’ rights if Khan is ever convicted of crime or arrested.
The agreement will now need to be unanimously backed by the FA board members on Thursday. Should this be the case, details of the sale will be presented to a larger FA council, made up of representatives from clubs across the different tiers of English football – from the Premier League down to amateur clubs.
Pakistani-American business tycoon Khan has a net worth exceeding £6 billion. His bid for Wembley has been prompted by his desire to launch a London-based NFL team which would play its home games at the stadium.
In recent years, Wembley has already hosted numerous NFL London fixtures, including Jacksonville’s game with the Baltimore Ravens last September.
