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

The sale of Wembley Stadium has been called off after billionaire Shahid Khan withdrew his £600m offer to the Football Association (FA).

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.

The planned sale, which first emerged in April, was due to go to a vote at the 127-member FA Council, which includes grassroots representatives, next week.

The tycoon said in a statement he took the decision to pull the plug when it became clear only a slim council majority could be achieved.

Mr Khan said: "The intent of my efforts was, and is, to do right by everyone in a manner that strengthens the English game and brings people together, not divides them.

"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.

"Until a time when it is evident there is an unmistakable directive from the FA to explore and close a sale, I am respectfully withdrawing my offer to purchase Wembley Stadium."

FA chief executive Martin Glenn said he fully respected the decision while confirming Wembley (Sao Paolo: R2:WMBY3S.SA - news) would not be sold.

"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."

Mr Khan saw Wembley as a possible home for his NFL side one day and it is understood he had made a series of commitments regarding the hosting of England football matches and wider marketing rights.

While the deal had the backing of the FA board, there were voices on the council which saw the sale as a sell-out of the crown jewel of English football.

Other concerns included doubts about whether the money received from the sale would actually be distributed and spent properly.

Supporters spoke of an historic opportunity to invest in the England players of tomorrow being lost.