England's FA set to sell Wembley Stadium to U.S. billionaire

  • England's FA set to sell Wembley Stadium to U.S. billionaire

England's FA set to sell Wembley Stadium to U.S. billionaire

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

"I trust many if not most of you are also supporters of the England national teams, so I hope you welcome the potential of this becoming a reality".

Fulham manager Slavisa Jokanovic said on Friday that "very ambitious" Khan had told him about this "plan a year and a half ago".

This is the context to the FA's acknowledgement that it is considering a £500m-plus proposal from Khan to buy Wembley, and presenting it as a positive plan because it would spend the money on improving grassroots facilities.

In January the FA said it would finally finish paying for Wembley by the end of 2024, 17 years after it opened.

The NHL team have already established a strong presence in London through regular season matches being played at Wembley in front of sell-out crowds and have "home" matches scheduled at least through to 2020.

Wembley stadium now is the home of Tottenham and there are concerns the new deal would affect them, but National Football League said the potential purchase would not affect the deal they have in place with the Spurs to stage National Football League games at their new ground.

The FA's own history since it took charge of the Wembley project in 1999 has been turbulent, working through a series of chairmen and chief executives and repeatedly coming off worse in battles for governance authority with the Premier League's chief executive, Richard Scudamore.

"I've enjoyed a rewarding relationship with The Football Association for years and my more recent exchanges and time spent with Martin Glenn have served to further strengthen a connection with the FA that made it natural and ultimately possible for both parties to consider this transaction", he said in a statement.

The FA board has a huge decision to make now. Well, they will still be able to call Wembley their home. It replaced the original venue - famed for its "twin towers" which was first used for the 1923 FA Cup Final and was demolished in 2003.

What about other showpiece games and events at the national stadium? If Wembley is sold it will no longer be Wembley Stadium. "And this gives us a stadium solution for us or anyone else".

EverBank Field, the 69,000-capacity current home of the Jacksonville Jaguars. Wembley is a special place, beloved in London and known throughout the world.

Will Fulham move to Wembley if Khan buys the ground?

The 67-year-old was born in Lahore, Pakistan but moved to the United States at the age of 16 to study engineering and went on to become a billionaire as an automobile parts manufacturer.

British media reported that Khan, who is worth $7.2 billion according to Forbes, is ready to pay more than 500 million pounds.

The Jaguars have played one game in London in the NFL's International Series since 2013.