April 27 – In a move that has split public opinion across the nation, the most iconic venue in English football, the national stadium at Wembley, could be sold within weeks following a multi-millionaire pound bid by US billionaire Shahid Khan.
Khan, who also owns promotion-chasing Championship side Fulham as well as the NFL team Jacksonville Jaguars, is reported to have made an offer that could be worth up to £900 million.
“This offer makes a lot of sense for us,” Khan told the BBC. “When I say us, I’m talking about the Jaguars, NFL, Wembley, and I think it also makes a lot of sense for the FA and the English football team. I’m pretty confident – that’s why we’re putting our name, our reputation on the line to get it done.”
The 90,000-seater stadium was rebuilt at a cost of £757 million on the site of the original ground where England won the World Cup in 1966. The newly revamped stadium opened in 2007 and the Football Association said last January it would repay its debt by 2024.
Under the deal the stadium would retain its name and reports say the offer is being carefully considered by the FA who would use the money to make a major investment into grassroots football.
Pakistan-born Khan has a current net worth of $7.2 billion and is the 217th richest person in the world, according to the 2018 Forbes rich list. Commenting on fans’ concerns about his bid, he added: “We’ll leave the tradition and the stadium itself. Even though this is a new stadium, it does need upgrades.
“It means a lot to me because the first English stadium I went to was Wembley, and obviously it’s iconic and historic and it means a lot to me.
“Under this arrangement the FA retains the right, the revenue, and that is really the most positive part of Wembley for the FA. So they will be retaining it and obviously we want it to be there.”
In a general statement he added: “We would strive to be the best possible steward for a venue that is iconic. Wembley would return to private ownership and the Football Association would be able to focus on its core mission of developing players.”
Reports suggest such a takeover could give the Jaguars a permanent home in London though one complication would be where England play when dates clash with the NFL season.
Another is that Premier League club Tottenham Hotspur, which has been using Wembley this season while their own new state-of-the-art stadium is completed, themselves have a deal with the NFL to stage a minimum of two games a season over 10 years.
Crystal Palace boss and former England manager and Roy Hodgson was quoted as saying: “I am a massive supporter of Wembley as the national stadium and England playing there but I also have great faith in the FA that they won’t be making decisions lightly. If they think that is a good deal, a deal that will bring in money that they can spend in a better way, then I would be behind that.”
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