NEWS
Wembley deal off as Shahid Khan withdraws £600m bid to buy national stadium
POSTED 18 Oct 2018 . BY Tom Walker
US billionaire Shahid Khan has withdrawn his bid to buy Wembley, English football's national stadium.

Khan, the owner of Fulham Football Club and the Jacksonville Jaguars NFL franchise, made an offer of around £600m (US$828m, €685.6m) for the stadium in April.

The deal would have resulted in Khan taking control of the venue, but would have left the English Football Association (FA) – Wembley's current owner – in charge of the Club Wembley hospitality business.

While the plans to sell Wembley were supported by some members of the FA board – who saw it as a way for the national governing body to be able to focus on its core mission of developing players and improve grassroots – it caused division at all levels of the sport.

Some former players called the plans "a disgrace", while many grassroots football stakeholders demanded to see clear plans of how the £600m would be used to benefit the development of the sport.

FA chief executive Martin Glenn said the plans to sell Wembley had proven to be "more divisive than expected".

"The offer from Shahid Khan to buy Wembley Stadium was a very credible one and was given very serious consideration," Glenn said.

"Mr Khan believed that his offer to buy Wembley Stadium would release funds to help improve community football facilities in England and that it would be well received by all football stakeholders.

"At a recent meeting with Mr Khan he expressed to us that, without stronger support from within the game, his offer is being seen as more divisive than it was anticipated to be and has decided to withdraw his proposal.

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

Glenn said that while the plans to sell Wembley have now been buried, they had a positive impact of highlighting the need to improve grassroots facilities.

"This debate (over the sale) has undoubtedly raised awareness of the issue that community football facilities in England need significant investment," he added.

"We will continue to work together to identify new and innovative ways of investing in community football facilities in the future."
RELATED STORIES
FA confirms plans to sell Wembley to Fulham owner Shahid Khan


The Football Association (FA) has confirmed that it's considering selling England's national stadium, Wembley, to entrepreneur Shahid Khan.
Saracens to host fixture at London Stadium after failing to cement Wembley Stadium partnership


Premiership rugby club Saracens will host its home match against Harlequins at the London Stadium next season after failing to cement a “long-term relationship” with Wembley Stadium.
'World's most technologically advanced stadium tour' debuts at Wembley


Wembley Stadium has launched what it calls “the world’s most technologically advanced stadium tour”, using beacon technology, 360 video and augmented reality to provide a mind-blowing interactive experience for visitors exploring the home of English football.
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Leisure Management - Wembley deal off as Shahid Khan withdraws £600m bid to buy national stadium...
18 Nov 2018 Leisure Management: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

18 Oct 2018

Wembley deal off as Shahid Khan withdraws £600m bid to buy national stadium
BY Tom Walker

Khan made an offer of around £600m for the stadium in April

Khan made an offer of around £600m for the stadium in April

US billionaire Shahid Khan has withdrawn his bid to buy Wembley, English football's national stadium.

Khan, the owner of Fulham Football Club and the Jacksonville Jaguars NFL franchise, made an offer of around £600m (US$828m, €685.6m) for the stadium in April.

The deal would have resulted in Khan taking control of the venue, but would have left the English Football Association (FA) – Wembley's current owner – in charge of the Club Wembley hospitality business.

While the plans to sell Wembley were supported by some members of the FA board – who saw it as a way for the national governing body to be able to focus on its core mission of developing players and improve grassroots – it caused division at all levels of the sport.

Some former players called the plans "a disgrace", while many grassroots football stakeholders demanded to see clear plans of how the £600m would be used to benefit the development of the sport.

FA chief executive Martin Glenn said the plans to sell Wembley had proven to be "more divisive than expected".

"The offer from Shahid Khan to buy Wembley Stadium was a very credible one and was given very serious consideration," Glenn said.

"Mr Khan believed that his offer to buy Wembley Stadium would release funds to help improve community football facilities in England and that it would be well received by all football stakeholders.

"At a recent meeting with Mr Khan he expressed to us that, without stronger support from within the game, his offer is being seen as more divisive than it was anticipated to be and has decided to withdraw his proposal.

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

Glenn said that while the plans to sell Wembley have now been buried, they had a positive impact of highlighting the need to improve grassroots facilities.

"This debate (over the sale) has undoubtedly raised awareness of the issue that community football facilities in England need significant investment," he added.

"We will continue to work together to identify new and innovative ways of investing in community football facilities in the future."



Connect with
Leisure Management
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Construction begins on Miami’s Underline linear park
Construction begins on Miami’s Underline linear park   16 Nov 2018

Work has started on the what is expected to become Miami’s next "world-class trail". Designed by landscape architecture firm James Corner Field .... more>>
St Louis Zoo reveals plans for US$80m expansion
St Louis Zoo reveals plans for US$80m expansion   16 Nov 2018

St Louis Zoo is planning to add a US$80m (€70.6m, £62.4m) expansion which would house a new breeding facility as well as new outdoor visitor .... more>>
Dollywood, Universal and Fantawild among 2018 TEA Thea Awards winners
Dollywood, Universal and Fantawild among 2018 TEA Thea Awards winners   16 Nov 2018

The Themed Entertainment Association (TEA) has revealed the winners of this year's Thea Awards. Dollywood theme park took home the Thea Classic .... more>>
The Pavilions Hotels launches Nepal’s first-ever tented eco-villas
The Pavilions Hotels launches Nepal’s first-ever tented eco-villas   15 Nov 2018

Luxury group The Pavilions Hotels & Resorts will soon debut the Himalayas Lake View – the first tented eco-villas in Nepal. Designed by Wonaw & .... more>>
Anytime Fitness' parent company acquires Basecamp Fitness – plans to roll out franchise globally
Anytime Fitness' parent company acquires Basecamp Fitness – plans to roll out franchise globally   15 Nov 2018

Self Esteem Brands, owner of Anytime Fitness, has acquired a new fitness concept with plans to franchise it worldwide. Basecamp Fitness – .... more>>
Susan Cain to deliver opening keynote at 2019 ISPA
Susan Cain to deliver opening keynote at 2019 ISPA   15 Nov 2018

New York Times best-selling author and top TED Talk speaker Susan Cain will be the opening keynote speaker at the 2019 ISPA Conference & Expo .... more>>
Company profile


Gantner Ticketing

Syx Automations was established in 1990.

View full profile>>

Catalogue gallery


Featured Supplier

Unlocking new clientele through corporate memberships

Unlocking new clientele through corporate memberships

Fitness facilities often struggle to increase corporate members. At present, just 14 per cent of individuals are granted access to gyms through their employer More>>




in this issue

• 'Preventative vision' revealed for NHS
• Escape and Myzone to 'gamify' HIIT classes
• IHG opens the UK's first Kimpton hotel



Latest jobs

Jobs Search



Lifeguard
Salary: Competitive salary
Location: Sunbury-on-Thames, UK
Company: Everyone Active
Leisure Assistant
Salary: £7.90- £8.45
Location: Bristol, UK
Company: Active Lifestyle Centres
Cover Duty Manager
Salary: £9.80 per hour
Location: Yate, Bristol, UK
Company: Active Lifestyle Centres
Diary dates
Powered by leisurediary.com




24 Apr - 26 Nov 2018

MAPIC Russia

Expocentre, Moscow, Russia



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Tourism: High flyers
How bmi and Projekt Spielberg are growing British tourism to Graz More>>
  Interview: Katy Bowman
In her latest book, the biomechanist and author explains why we need to widen our spectrum of movement and connect with our inner hunter-gatherer More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  Hospitality: Wasted opportunity
Restaurants take innovative approaches to solve the problem of food surplus More>>
  Tourism: Ireland’s wild side
The Wild Atlantic Way is helping tourists discover a whole new side of Ireland More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd