The board of the English Football Association (FA) on Thursday unanimously supported the sale of the Wembley Stadium.
According to Sky Sports reports, Shahid Khan, a Pakistani-American billionaire, the London Fulham football club and the Jacksonville Jaguars in the Overseas American Football League (NFL), pays £ 600 million first for the legendary facility and later adds another 300 million to the federation.
FA spokesman announced Thursday’s positive decision means that the topic will be presented to the FA’s 127-member council in October, which will decide on the sale.
In April, Khan said he wanted to buy Wembley to boost Jaguar’s presence in London as other NFL teams are increasingly interested in the city. The FA said the money from the sale of the stadium would be spent on improving English football.
In spite of the sale, English matches and cups will continue to be held at the 92,000-seat North London stadium, which is the largest sporting facility in the UK.
Wembley was opened for the FA Cup Finals in 1923 but was rebuilt from 2003 to 2007 with a total investment of 757 million (over 270 billion forints) investment, creating a new stadium in its old place.
Since the renovation, the stadium has been owned by the FA, which is still subject to 150 million debts due to the rebuilding.