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Bolton Nuts » BWFC » Wandering Minds » Wembley: Shahid Khan withdraws offer to buy national stadium from FA

Wembley: Shahid Khan withdraws offer to buy national stadium from FA

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Norpig

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Nat Lofthouse
Nat Lofthouse
Fulham owner Shahid Khan has withdrawn his offer to buy Wembley Stadium from the Football Association.


Khan had offered £600m for the national stadium, with the FA retaining the Club Wembley hospitality rights, which it valued at £250m to £300m.


"We fully respect his decision," said FA chief executive Martin Glenn.


Khan has not ruled out making another bid in future if there is more support from FA Council members and said he would respect the "national treasure".


The FA had said it would invest the proceeds of the sale into improving grassroots football facilities.


FA executives made a presentation to the FA Council last week about why they were backing the sale to Khan, and the 127 council members were scheduled to vote on the proposed sale on 24 October.


A senior FA source told BBC Sport that the board believed the odds were slightly against the purchase being backed, given the strong objections of some councillors to the home of English football being sold off.


FA chief executive Glenn said Khan had believed his offer "would be well received by all football stakeholders".


And Glenn added: "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 the world and it will continue to thrive under the ownership and direction of the FA."


Khan said he wanted "to do right by everyone in a manner that strengthens the English game and brings people together, not divides them".


He added: "Unfortunately, given where we are today, I've concluded that the outcome of a vote next week would be far from sufficient in expressing the broad support favoured by the FA chairman to sell Wembley Stadium.


"Until a time when it is evident there is an unmistakable directive from the FA to explore and close a sale, I am respectfully withdrawing my offer to purchase Wembley Stadium."


https://www.bbc.co.uk/sport/football/45893325



A chance missed here to make a real difference to grass roots football in this country, well done FA you morons.
Does anyone agree with me or think we were mad to even consider it?

gloswhite

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Jay Jay Okocha
Jay Jay Okocha
I thought we were trying to move away from PFI. 
As soon as the first contract ends, the price to hire England's national football stadium, would rocket, and I can't help but wonder what the site would then be worth for housing, etc.

gloswhite

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Jay Jay Okocha
Jay Jay Okocha
Sorry, forgot to add ... I'm glad it didn't go through.

Norpig

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Nat Lofthouse
Nat Lofthouse
Not sure why you think it's linked to PFI Glos?

The FA would have got £600million plus a guarantee that England could still play there and major finals would still be played there. The money could have been spent on improving facilities and coaching for the thousands of grass roots junior football teams (i'm involved with one so feel strongly about this) which would have made a massive difference.

Growler


Nicolas Anelka
Nicolas Anelka
There was an article in the paper last week that he was being sued by an ex employee at Fulham about bullying and dodgy business practices.It might be because of that and he is saying the above to save face

gloswhite

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Jay Jay Okocha
Jay Jay Okocha
OK, might seem a bit cockeyed to some, but I see this, over time, becoming a national asset that was owned by a private company. You will know as well as I, that once something of that nature is bought out or heavily uses, contracted resources, or buildings, things go wrong, one way or another, and the cost goes west very quickly.

wanderlust

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Nat Lofthouse
Nat Lofthouse
Who the hell in their right mind would buy a white elephant like Wembley? Especially on terms that meant the vendor could use it whenever they want to?

The original Wembley was iconic thanks to teams like Bolton and Blackpool but the new one is nothing more than a facility. Most modern countries don't even bother with a national stadium and anyway shouldn't the national team play around the regions to show that it's a national and not London-centric team?  

Waste of money for political reasons - again.

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