England prepares to sell Wembley Stadium to billionaire


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The ownership of Wembley Stadium, England, may soon be transferred to billionaire Shahid Khan for the sum of £500m.

Khan made a formal offer to the Football Association on Thursday and it was discussed by the FA board for the first time at the meeting.

Wembley stadium, which is a well known football landmark, could be handed to Khan, the billionaire owner of the NFL’s Jacksonville Jaguars and Fulham Football Club, if the FA board finds merit in his offer.

Meanwhile, the FA revealed that the offer from Khan, if accepted, could be pumped into the development of grassroots football.

Even with this assertion, many fans are uneasy at the thought of the national stadium being privately owned.

Khan, who is worth an estimated £5.2bn, is prepared to pay more than £500m in cash and allow the FA to keep the Club Wembley debenture and hospitality business that is valued at a further £300m.

 


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