London (AFP) – The Football Association revealed on Thursday that they have received an offer to buy iconic Wembley stadium.
The London Evening Standard reported that Shahid Khan, who owns Championship club Fulham and the NFL’s Jacksonville Jaguars, is behind the £500 (+300) million ($698 million) bid to buy the national stadium.
It is understood Khan’s bid includes £500m for the stadium and £300m for the FA to keep the Club Wembley debenture and hospitality business.
The FA board discussed the approach at a meeting on Thursday.
“We would strive to be the best possible steward for a venue that is iconic,” said Khan.
According to the Standard, Khan has struck an outline agreement with FA boss Martin Glenn to transfer Wembley to foreign ownership for the first time.
The shock proposal was being put before the full board of the domestic game’s governing body on Thursday.
Wembley, which has a 90,000-capacity, was reopened in 2007 after the FA’s seven-year, £757 million rebuild of the home of English football.
The flamboyant Khan is a Pakistan-born American billionaire, who made his fortune in the car parts business.
“We can confirm that the FA has received an offer to buy Wembley Stadium,” an FA statement read.