LONDON – Fulham owner Pakistani-American Shahid Khan moved a step closer tobuying Wembley Stadium after the Football Association board agreed to letthe 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 Englandand the historic arena reopened in 2007 after a seven-year rebuildingproject that cost £757 million.
But senior FA executives believe selling to businessman Khan, who also ownsthe Jacksonville Jaguars NFL team, could provide a huge cash boost forEnglish football as well as an additional £300m in future revenues from thestadium´s hospitality business.
Now Khan´s proposal will be put before the FA council when it meets onOctober 11.
“The sale of Wembley Stadium, the negotiated protections and an outlinedplan to invest £600m into football community facilities, were presented anddiscussed at the FA board meeting today (Thursday),” said an FAspokesperson.
“Following on from this discussion, the FA board has agreed to take thepresentation to the FA council to get its input now that the full facts areknown.”
Read Top Stories
Reports in the British media before Thursday´s meeting suggested oppositionfrom amateur football representatives and other grassroots groups couldhave scuppered the deal.
Board approval was forthcoming, however, although Khan´s plan will need togain majority council support if it is to get off the drawing board.
Khan´s proposals also include basing the Jaguars at Wembley, where asuccession of NFL games, several featuring his side, have been played inrecent years. – APP
