FA mull over offer to buy iconic Wembley

– The Football Association have received an offer to buy iconic Wembley Stadium (right) in a shock move that increases the chances of an NFL team taking up permanent residence in London.

Shahid Khan, who owns Championship club Fulham and the NFL’s Jacksonville Jaguars, is behind the £500 million bid to buy the national stadium and he hopes to complete his purchase within three months.

According to the Evening Standard, Khan has struck an outline agreement with FA boss Martin Glenn to transfer Wembley to foreign ownership for the first

London

time.

Asked when he thought the sale could be completed, Khan said: “Early fall, like August, maybe two to three months from now, is what we’re targeting for a full close.”

The stunning proposal, which would also see Khan allow the FA to keep lucrative debenture and hospitality revenue worth around £300 million, was put before the full board of the domestic game’s governing body this week.

“We can confirm the FA has received an offer to buy Wembley Stadium,” an FA statement read.

Wembley, which has a capacity of 90 000, was reopened in 2007 after the FA’s seven-year, £757 million rebuild of the home of English football.

The flamboyant Khan is a Pakistan-born American billionaire, who made his fortune in the car parts business.

Khan’s approach is a further sign of the NFL’s desire to build on the foothold they have established in the British sports market.

Wembley has staged the FA Cup final since the old stadium opened in 1923 and has hosted some of football’s most celebrated matches, including England’s 1966 World Cup final victory and seven European Cup finals. –