Wembley Stadium To Be Owned By Shahid Khan
Wembley Stadium To Be Owned By Shahid Khan: London’s Wembley, which has a 90,000-capacity, was reopened in 2007 after the Football Association’s £757 million rebuild of the home of English football. Wembley has staged the FA Cup final since the old stadium opened in 1923 and has hosted some of football’s most celebrated matches, including England’s 1966 World Cup final victory and 7 European Cup finals.
Shahid Khan, is Pakistan born American billionaire, who made his affluence in the car parts business. He is also the owner of Championship club Fulham and the NFL’s Jacksonville Jaguars, is behind the £500 million ($698 million) bid to buy the national stadium.
NFL matches have been played at Wembley since 2007, with Khan’s Jaguars featuring as the “home” team on several occasions. Having stadium options in London has always been critical to the NFL and this would allow for even greater flexibility in scheduling future NFL games in London.
The Football Association (FA) have received an offer to buy the grand Wembley stadium in a surprising move by Shahid Khan that increases the chances of an NFL team taking up permanent residence in London.
Shahid Khan has made an outline agreement with FA boss Martin Glenn to transfer Wembley to foreign ownership for the first time.
Khan’s approach is a further sign of the NFL’s desire to build on the position they have established in the British sports market.
Tottenham Premier League club have played their home games at Wembley this season, but will move out once White Hart Lane is rebuilt. Khan insisted the England national team would still be able to use Wembley as their home venue.
The potential purchase of Wembley Stadium is a powerful sign of NFL commitment to the UK and their vision to help grow the sport.
It is believed the Football Association (FA) are considering the deal because the money raised would be restricted for the investment in grass-roots programs, they feel are essential for football’s future in the United Kingdom.
Wembley Stadium would return to private ownership and the Football Association (FA) would be able to focus on its main mission of developing players with the “best player developers and facilities” anywhere in the game as a result of the vast financial benefit that would come from the transaction.
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