Shahid Khan's Wembley Stadium bid OFF: Fulham owner withdraws from £600m talks with FA over iconic arena

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Jack Rosser @JackRosser_18 October 2018

Fulham owner and US billionaire Shahid Khan has withdrawn his £600million offer to buy Wembley Stadium due to a lack of support from the FA Council.

The US billionaire held talks with the FA over the sale of the national stadium, but has decided to back out from the offer due to a lack of support from within the game following a presentation from FA chief executive Martin Glenn to the Council last week.

The sale, which was intended to be voted on later this month, was set to fund vital improvements for football facilities at grassroots level, but the proposal received criticism in some quarters.

Khan, who also owns NFL franchise Jacksonville Jaguars, said: “I cannot rule out revisiting the opportunity at another time when perhaps the Football Association family is unified in its views on the opportunity.

“It appears there is no definitive mandate to sell Wembley and my current proposal, subsequently, would earn the backing of only a slim majority of the FA Council, well short of the conclusive margin that the FA Chairman has required.”

“In a statement on Wednesday, Glenn said: "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.

“I cannot rule out revisiting the opportunity at another time when perhaps the Football Association family is unified in its views on the opportunity.”

Shahid Khan

“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.

In Pictures | Shahid Khan: Fulham FC and Jacksonville Jaguars Owner

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“There has been much deliberation on both sides of this debate and it has undoubtedly raised awareness of the issue that community football facilities in England need significant investment.

“We would like to thank the football stakeholders, Government, FA Board and Council members for their collaborative approach throughout this process. We will continue to work together to identify new and innovative ways of investing in community football facilities in the future.”

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