Fulham owner withdraws offer to buy Wembley

AFP, LONDON: Shahid Khan has withdrawn his controversial offer to buy London’s Wembley Stadium, the American businessman announced on Wednesday.

The Football Association, Wembley’s current owners, had come under fire from many within its own ranks for a plan to sell. English football’s governing body had also investigated allegations of “systemic corruption” surrounding the proposed sale.

Khan -- the owner of London-based Premier League side Fulham -- offered to buy the stadium for £600 million ($800 million), in a deal ultimately worth £900 million to the FA, with the money to be reinvested in grassroots football. And while senior FA figures were happy for the sale to go through, that lack of support from the wider game, evident at a meeting of the FA’s governing council last week, was a key factor in Khan’s decision to pull out.

“At this moment, following last week’s FA Council hearing, 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 (Greg Clarke) has required,” said Khan.

“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,” added Khan, who had also suggested his NFL franchise the Jacksonville Jaguars could increase the number of games they play at Wembley.

Meanwhile Khan left open the possibility he could launch another bid. “I cannot rule out revisiting the opportunity at another time when perhaps the Football Association family is unified in its views on the opportunity,” he explained.

Khan later issued another statement in the United States, regretting the collapse of the deal but underlining his determination to keep the Jaguars playing in Jacksonville.

“The local revenues we would have generated opening Wembley throughout the year would have been invested in our continued efforts toward building and maintaining a sustainable NFL franchise in Jacksonville,” he said.

Fulham owner withdraws offer to buy Wembley

AFP, LONDON: Shahid Khan has withdrawn his controversial offer to buy Londons Wembley Stadium, the American businessman announced on Wednesday. The Football Association, Wembleys current owners, had come under fire from many within its own ranks for a plan to sell. English footballs governing body had also investigated allegations of systemic corruption surrounding the proposed sale. Khan -- the owner of London-based Premier League side Fulham -- offered to buy the stadium for 600 million ($800 million), in a deal ultimately worth 900 million to the FA, with the money to be reinvested in grassroots football. And while senior FA figures were happy for the sale to go through, that lack of support from the wider game, evident at a meeting of the FAs governing council last week, was a key factor in Khans decision to pull out. At this moment, following last weeks FA Council hearing, 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 (Greg Clarke) has required, said Khan. 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, added Khan, who had also suggested his NFL franchise the Jacksonville Jaguars could increase the number of games they play at Wembley. Meanwhile Khan left open the possibility he could launch another bid. I cannot rule out revisiting the opportunity at another time when perhaps the Football Association family is unified in its views on the opportunity, he explained. Khan later issued another statement in the United States, regretting the collapse of the deal but underlining his determination to keep the Jaguars playing in Jacksonville. The local revenues we would have generated opening Wembley throughout the year would have been invested in our continued efforts toward building and maintaining a sustainable NFL franchise in Jacksonville, he said.