Shad Khan Backs Out Of Deal To Buy Wembley Stadium

Wembley Stadium sale off after billionaire Shahid Khan withdraws offer, FA says

Wembley will not be sold by the FA after Shahid Khan withdraws offer

Khan, who is worth £5.2bn and also owns NFL team Jacksonville Jaguars, said in a statement: 'I've been clear publicly as well as in my correspondence with the FA Council that it would require a proper partnership, with the full and enthusiastic commitment of all involved, to maximise the benefits to the FA and game of football by way of 100 per cent private ownership of Wembley Stadium.

Shahid Khan has canceled a proposed £600 million acquisition of Wembley.

That division was cited by Khan as his key reason for withdrawing the offer. I recognize the passion many people have for Wembley and what it means to English football, and will be willing to re-engage with the FA on this matter under proper circumstances.

But the FA disclosed last week that there was more opposition than support after surveying 22,500 people, including club and league officials, referees, adult and youth players, coaches, volunteers and members of the public.

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"Unfortunately, given where we are today, I've concluded that the outcome of a vote next week would be far from sufficient in expressing the broad support favoured by the FA Chairman to sell Wembley Stadium".

The FA decided last week that it would need to convene a special board meeting, scheduled for October 24, to deliberate and potentially vote on the sale of Wembley. "Don't sell Wembley when you can place a levy on agents' fees".

The Premier League generates more than $4 billion every season from broadcasters and agents received $422 million previous year from the 20 teams for negotiating player transfers and contracts.

Owning the stadium would give the Jags and Khan the flexibility to continue to play a game (or maybe more) annually at the venue, which accounts for about 12 percent of the franchise's annual income.

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"Wembley Stadium is indeed a national treasure, one I would care for and respect for generations", Khan said.

'I can not rule out revisiting the opportunity at another time when perhaps the Football Association family is unified in its views on the opportunity. For the past season, it has been the home of soccer team Tottenham Hotspur, whose new stadium in north London will also host National Football League games when it's completed.

Mr Khan, who owns Fulham FC and the Jacksonville Jaguars NFL team, cited a lack of necessary support for the proposal within English football and said he did not want it to prove divisive.

Khan is the owner of Fulham and the NFL's Jacksonville Jaguars.

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