Fulham owner Shahid Khan withdraws offer to buy Wembley Stadium

Shahid Khan has backed off in the face of opposition from FA councillors

Shahid Khan has backed off in the face of opposition from FA councillors

The sale of Wembley Stadium has collapsed a week before a decisive vote on the controversial proposal was due to be held.

The owner of National Football League's Jacksonville Jaguars franchise withdrew his bid for London's Wembley Stadium on the grounds that the Football Association may not be ready to part with the asset.

But concerns about whether the FA was selling the family silver too cheaply, its ability to spend the money wisely and Khan's long-term plans for the stadium have all conspired against the sale.

The announcement at least means the FA chief executive, Martin Glenn, and chairman, Greg Clarke, will not have to deal with the fallout that would have followed...

Shahid Khan has sensationally withdrawn his £600million offer to buy Wembley.

"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", he added.

According to Glenn, Khan informed the FA that he was pulling his bid after it was "being seen as more divisive than it was anticipated to be" without stronger support from football stakeholders.

Liverpool target Barella proud of links with top clubs
Liverpool and Manchester United are among the many teams monitoring Ramsey's contact situation at the Emirates. The Italian club expect more players to join the chase for the 21-year-old midfielder by the end of the season.

The FA was under no financial pressure to sell the 11-year-old stadium but seized on Khan's interest as a chance to fund soccer facilities in communities across England while retaining the use of Wembley for national team matches and domestic cup finals.

The FA had been poised to sell the stadium to the billionaire owner of Fulham football club in an extraordinary deal worth nearly £900m.

The potential deal has, however, aroused much debate and, with the FA Council not certain to back the sale, the apparent lack of whole-hearted support from within the game appears to have impacted Khan's decision.

"Wembley Stadium is an iconic venue that is revered around the world and it will continue to thrive under the ownership and direction of the FA".

"I can not rule out revisiting the opportunity at another time when perhaps the Football Association family is unified in its views on the opportunity", Khan said on Wednesday.

Although it cost the FA and British government more than $1.4 billion (adjusted for inflation) to renovate and rebuild Wembley Stadium, the arena hosted 33 events between July 2016 and June 2017 and in its latest published financial records, the FA recorded an after-tax profit of $21 million. Broader support from within the Football Association is necessary, and "with opinions clearly split, that is not possible at this time". Wembley Stadium is indeed a national treasure, one I would care for and respect for generations.

Recommended News

  • Unapproved, Sometimes Dangerous Drugs Found In Dietary Supplements

    Unapproved, Sometimes Dangerous Drugs Found In Dietary Supplements

    Most supplement consumers wrongly believe that the products they are purchasing are regulated or vetted in some way. They also noted that another study found that 23,000 emergency visits per year are due to supplements.
    Australia Open to Moving Its Israel Embassy to Jerusalem

    Australia Open to Moving Its Israel Embassy to Jerusalem

    Israel is the only nation on earth denied the right, in a practical sense, to choose its own capital. Mr Morrison said he would consult with his cabinet and other nations before making any decisions.
    A #MeToo novel wins the coveted Booker Prize

    A #MeToo novel wins the coveted Booker Prize

    The novelist has, however, said she is happy for the work to be taken as an inspiration by those involved in the movement. In 2001 she won the Winifred Holtby Memorial Prize, and was shortlisted for the 2002 Orange Prize for Fiction.
  • Prescott, Cowboys pack punch with pass, rout Jaguars 40-7

    Prescott, Cowboys pack punch with pass, rout Jaguars 40-7

    The Cowboys are set to face one of the AFC's best in the Jacksonville Jaguars , but the game does come at home in AT&T Stadium. The Cowboys not only beat the Jaguars 40-7, but they did so in an absolutely dominant fashion.
    Sreesanth expresses her anger with Dipika Kakkar

    Sreesanth expresses her anger with Dipika Kakkar

    The Ghoda Gaadi wala with the maximum distance covered will be the victor and will be one of the contenders for captaincy. He will also ask his lady love why she has not given her a massage up till now like how Sourabh gave her the other day.
    MAN's New FAR FROM HOME Suit Revealed

    MAN's New FAR FROM HOME Suit Revealed

    He posted an image of Spidey standing on a NY street alongside co-star Zendaya , with the simple caption: "THATS A WRAP". The differences between this suit and Spider-Man's Homecoming suit are subtle, but definitely noticeable.
  • Treasury Declines to Label China a Currency Manipulator

    Treasury Declines to Label China a Currency Manipulator

    Washington and Beijing are locked in battle over the yawning US-China trade deficit, which Trump describes as a job killer. President Trump has previously accused China of keeping its currency weak to make its exports more competitive.
    MLB Clears Astros of Any Wrongdoing in Sign-Stealing Scandal

    MLB Clears Astros of Any Wrongdoing in Sign-Stealing Scandal

    The incident isn't expected to amount to anything more than a fine for Houston , according to a report from ESPN . It's still fishy and the league told the Astros not to do that anymore and report it to the proper authorities.
    Google switches to a Samsung display for the Pixel 3 XL

    Google switches to a Samsung display for the Pixel 3 XL

    Titan M also limits the amount of logon attempts with your passcode, helping to prevent malicious decryption. The Titan M is made for mobile, though, working to provide on-device OS and data protection.
  • USA  sanctions Iranian network recruiting child soldiers

    USA sanctions Iranian network recruiting child soldiers

    Parliament speaker Ali Larijani said 143 out of 268 lawmakers voted to join the "Combating the Financing of Terrorism", or CFT. A second round, forthcoming on November 4, will be targeting Iran's energy sector and financial transactions.
    Burger Chains' Antibiotics Grades: Two As, 22 Fs

    Burger Chains' Antibiotics Grades: Two As, 22 Fs

    McDonald's, Burger King and even the much vaunted In-N-Out Burger were among the 22 chains to get failing grades of "F". You'll be hard-pressed to find one that gets a passing grade from experts on antibiotic use in meat.
    Markets Right Now: Stocks surge to biggest gain since March

    Markets Right Now: Stocks surge to biggest gain since March

    Johnson & Johnson and UnitedHealth, the nation's biggest health insurer, also rose sharply after releasing their results. At Morgan Stanley, Goldman's traditional rival, revenue from equity trading rose 6%, while bond trading rose marginally.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.