Football: Possible £900m Wembley sale off after Fulham owner Shahid Khan withdraws offer

The proposed deal had been in the pipeline for more than 12 months, but Shahid Khan has now withdrawn his offer.
The proposed deal had been in the pipeline for more than 12 months, but Shahid Khan has now withdrawn his offer.PHOTO: REUTERS

LONDON (THE GUARDIAN) - Wembley Stadium will not be sold by the English Football Association after Shahid Khan withdrew his offer.

The FA had been poised to sell the stadium, home of the England national team, to the billionaire owner of Fulham football club in an extraordinary deal worth almost £900 million (S$1.63 billion).

The proposed deal had been in the pipeline for more than 12 months after Khan met the FA chief executive, Martin Glenn, at the Super Bowl in February last year, and it was presented to the FA board in April. But Khan has now withdrawn his offer.

"Earlier this year, the FA received an unsolicited official offer from Shahid Khan to buy Wembley Stadium. It was a very credible offer and was given very serious consideration," FA chief executive, Martin Glenn, said.

"Shahid Khan has informed us today that he will be withdrawing his offer to buy the stadium - and we fully respect his decision.

"Mr Khan believed that his offer to buy Wembley Stadium would release funds to help improve community football facilities in England and that it would be well received by all football stakeholders.

"At a recent meeting with Mr Khan he expressed to us that, without stronger support from within the game, his offer is being seen as more divisive than it was anticipated to be and has decided to withdraw his proposal.

 

"Wembley Stadium is an iconic venue that is revered around world and it will continue to thrive under the ownership and direction of the FA."