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  • Friday 04, December 2020
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Pakistani-American moves closer to purchase Wembley stadium

Pakistani-American moves closer to purchase Wembley stadium

The £600 million sale of Wembley has moved a step closer after the Football Association board ruled to press ahead with the deal despite concern in the grass-roots game.

The 10-member executive’s agreement after lengthy talks means the terms of the offer from Pakistani-American billionaire Shahid Khan can now be presented to the FA's wider council of footballing figures on Oct 11.

Fulham ownr Shahid Khan moved a step closer to buying Wembley Stadium after the Football Association board agreed to let the Pakistani-American businessman’s £600 million (€674m) plan be considered by the governing body’s full council next month.

Khan,said that vote was “welcomed and encouraging”. “I understand the discussion was open and thorough,” he said.

Khan added: “One cannot ask for more as we continue to work through the process with the FA Board, FA Council, Sport England, the Mayor of London’s office and DCMS toward reaching an agreement that will serve English football for generations to come.

“Today’s development has no effect on my plans to renovate Craven Cottage and, as such, has no impact on Craven Cottage continuing to be the permanent home of Fulham Football Club.”

"The sale of Wembley Stadium, the negotiated protections and an outlined plan to invest £600m into football community facilities, were presented and discussed at the FA board meeting today (Thursday)," said an FA spokesperson.

"Following on from this discussion, the FA board has agreed to take the presentation to the FA council to get its input now that the full facts are known."

Wembley, in northwest London, is the spiritual home of football in England and the historic arena reopened in 2007 after a seven-year rebuilding project that cost £757 million.