FA to sell Wembley Stadium in nine-figure deal, say reports

The FA is believed to be on the verge of selling Wembley Stadium for £800m.

American billionaire and Fulham owner Shahid Khan is reportedly offering £500m up front for the ground.

According to The Independent, a spokesperson from the FA confirmed that the organisation’s board has received a formal offer from Mr Khan.

As the owner of NFL side Jacksonville Jaguars, Mr Khan has been looking to establish a UK-based NFL franchise for some time. Acquiring Wembley would be a precursor to that goal.

The stadium is currently home to the England national team, which would have to find a new ground to stage home matches.

Tottenham Hotspur are also currently using Wembley while their new stadium is built.

The Independent further reported that the FA would invest the cash raised in grassroots, potentially creating hundreds of new 3G and 4G pitches along with other facilities.

Writing on Twitter, BBC News’ Richard Conway reported that of the £800m figure quoted, £500m would pay for the stadium and a further £300m would be for the FA “to keep the Club Wembley debenture and hospitality business”.

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