London (AFP) – Fulham owner Shahid Khan moved a step closer to buying Wembley Stadium after the Football Association board agreed to let the American businessman’s £600 million ($787 million, 674 million euros) plan be considered by the governing body’s full council next month.
Wembley, in northwest London, is the spiritual home of football in England and the historic arena reopened in 2007 after a seven-year rebuilding project that cost £757 million.
But senior FA executives believe selling to American businessman Khan, who also owns the Jacksonville Jaguars NFL team, could provide a huge cash boost for English football as well as an additional £300m in future revenues from the stadium’s hospitality business.
Now Khan’s proposal will be put before the FA council when it meets on October 11.
“The sale of Wembley Stadium, the negotiated protections and an outlined plan to invest £600m into football community facilities, were presented and discussed at the FA board meeting today (Thursday),” said an FA spokesperson.
“Following on from this discussion, the FA board has agreed to take the presentation to the FA council to get its input now that the full facts are known.”
Reports in the British media before Thursday’s meeting suggested opposition from amateur football representatives and other grassroots groups could have scuppered the deal.
Board approval was forthcoming, however, although Khan’s plan will need to gain majority council support if it is to get off the drawing board.
Khan’s proposals also include basing the Jaguars at Wembley, where a succession of NFL games, several featuring his side, have been played in recent years.
200+ Channels With Sports & News
- Starting price: $33/mo. for fubo Latino Package
- Watch Premier League, World Cup, Euro 2024 & more
- Includes NBC, USA, FOX, ESPN, CBSSN & more
Live & On Demand TV Streaming
- Price: $35/mo. for Sling Blue
- Watch Premier League, World Cup & MLS
- Includes USA, NBC, FOX, FS1 + more
Many Sports & ESPN Originals
- Price: $6.99/mo. (or get ESPN+, Hulu & Disney+ for $13.99/mo.)
- Features Bundesliga, LaLiga, Championship, & more
- Also includes daily ESPN FC news & highlights show
2,000+ soccer games per year
- Price: $4.99/mo
- Features Champions League, Serie A, Europa League & NWSL
- Includes CBS, Star Trek & CBS Sports HQ
175 Premier League Games & PL TV
- Starting price: $4.99/mo. for Peacock Premium
- Watch 175 exclusive EPL games per season
- Includes Premier League TV channel plus movies, TV shows & more
- Giggs assault trial: ex-girlfriend details ‘red flags’
- Everton sign Belgium’s Onana from Lille
- 2022/23 Serie A prediction: Who wins the Scudetto?
- Where to find PSV Eindhoven vs. AS Monaco on US TV
- Where to find Flamengo vs. Corinthians on US TV
- Cash-strapped African clubs eagerly await Super League riches
- Real Madrid motivated ahead of Frankfurt Super Cup clash
- Raza at the controls of high-flying Zimbabwe
- Southampton has early red flags in this Premier League campaign
- Sarr both Watford’s hero and villain in West Brom draw