Fulham owner 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 plan be considered by the governing body's full council next month. 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.
But senior FA executives believe selling to American businessman Khan, who also owns the Jacksonville Jaguars NFL team, could provide a huge cash boost for English football as well as an additional £300m in future revenues from the stadium's hospitality business. Now Khan's proposal will be put before the FA council when it meets on 11 October.
"The sale of Wembley Stadium, the negotiated protections and an outlined plan to invest £600 million into football community facilities, were presented and discussed at the FA board meeting last week," 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."
Reports in the British media had suggested that there would be stiff opposition from amateur football representatives and other grassroots groups which could have scuppered the deal. But nothing of the sort happened. Board approval was forthcoming, however, although Khan's plan will need to gain majority council support if it is to get off the drawing board. The deal agreed with Khan includes operational limitations, according to people familiar with the terms. These include that no sponsor can gain title rights, such as renaming the stadium or adding a corporate brand alongside that of Wembley – conditions that are largely a continuation of existing restictions on the stadiums use. The FA council will be able to veto any sponsor, with a range of businesses prohibited from being associated with the stadium, including gambling companies.
Khan's proposals also include basing the Jaguars at Wembley, where a succession of NFL games, several featuring his side, have been played in recent years.
