Q&A: Why Khan’s proposed Wembley deal is off and what it could mean
Fulham owner Shahid Khan has withdrawn his offer to buy Wembley Stadium from the Football Association.
Khan said his decision was based on opposition to the proposed deal from within the game.
What happened? And what could it mean for the future?
What was the proposed deal?
Khan, a Pakistani-born American billionaire, wanted to buy the national stadium to relocate his National Football League franchise, the Jacksonville Jaguars, to London. Khan offered the FA £600million in cash and said it can keep the Club Wembley hospitality income for football games, worth another £300million. FA chief executive Martin Glenn championed the deal, saying the national governing body did not need to sell the stadium, but the windfall a sale would generate would have a “transformational” effect on the game’s grassroots facilities.
Why is the proposed sale now off?
Despite having the support of the FA senior leadership, the Government and the professional game, there was scepticism among the FA Council and in a nationwide consultation of participants. Concerns were raised about the FA selling off the national stadium too cheaply, its ability to spend the money wisely and Khan’s long-term plans for the stadium. The sale was due to go to a vote of the FA Council next Wednesday, October 24, but Khan has withdrawn his offer “until a time when it is evident there is an unmistakable directive from the FA to explore and close a sale”.
Could a sale still happen?
Potentially. Many against the sale suggested it was a short-term plan which would be regretted and have an emotional attachment to the venue, which was rebuilt between 2000 and 2006. Khan “cannot rule out” returning to acquisition negotiations in the future, if “the Football Association family is unified” on the deal’s merits. He said the “journey was not without its rewards”, as he made new friends along the way and would be “willing to re-engage with the FA on this matter under proper circumstances”.
What does this mean for Wembley Stadium?
Status quo remains. With no other offer on the table, the stadium remains under FA ownership. Wembley will host Los Angeles Chargers v Tennessee Titans in the second of three NFL matches this month, with tenants Tottenham playing Manchester City in the Premier League on October 29. That game comes a day after Philadelphia Eagles play Khan’s Jacksonville Jaguars. Gareth Southgate’s England team play the United States and Croatia in November.
What about the grassroots facilities?
Everyone agrees facilities are unacceptable and what was described as a “once in a lifetime opportunity” by the Football Foundation to invest in facilities, is now over – for now, at least. The investment debate will continue, with the FA saying only one in three grass pitches is good enough and that is why one in six amateur games were cancelled last season. Thirty-three of the 50 county FAs do not own their own modern artificial pitch. There are other investment streams, including the Premier League. It has invested £302m into the Football Foundation over the last 18 years and contributes £24m per season to the Football Foundation as part of a wider £100m per season investment in community facilities, participation programmes and education projects.
