Jacksonville Jaguars owner Shad Khan’s bid to buy London’s iconic Wembley Stadium rolled toward the goal Thursday when the nearly $800 million deal won approval from the board of English soccer’s governing body.
The Florida Times-Union: Shad Khan's purchase of Wembley Stadium wins approval
In a brief statement, England’s Football Association said, “The FA Board have approved the sale of Wembley Stadium. The sale of Wembley Stadium, the negotiated protections and an outlined plan to invest £600m into football community facilities, were presented and discussed at The FA Board meeting today. Following on from this discussion, The FA Board has agreed to take the presentation to The FA Council to get its input now that the full facts are known.”
The BBC reported that the FA’s 127-member council would consider the deal on Oct. 11. It said, “The FA Council — which includes representatives of the Premier League, Football League and county FAs — does not have the power to accept or reject the deal.”
Khan issued a statement, saying, “The news from today’s FA Board meeting is welcomed and encouraging. I understand the discussion was open and thorough. One cannot ask for more as we continue to work through the process with the FA Board, FA Council, Sport England, the Mayor of London’s office and DCMS toward reaching an agreement that will serve English football for generations to come. Today’s development has no effect on my plans to renovate Craven Cottage and, as such, has no impact on Craven Cottage continuing to be the permanent home of Fulham Football Club.”
Khan owns Fulham, which last year won promotion to soccer’s Premier League, as well as the Jaguars.
The original Wembley Stadium that opened in 1923 was torn down in 2002-03. A new Wembley opened in 2007 and has continued to serve as the home of England’s national soccer team. Among the events on its summer calendar were the FA Cup final, an England-Nigeria World Cup tune-up match and concerts by Ed Sheeran and Taylor Swift.
News of Khan’s offer for the 90,000-seat venue was made public in late April, when it was reported that conversations between Khan and the FA had started several years earlier and intensified over the previous 12 months.
While it was clear that Khan’s ownership of Wembley would create a significant new revenue stream from concerts, England’s national soccer team matches and the Jaguars’ annual game there, the proposed deal caused some anxiety in Jacksonville among Jaguars fans concerned the move might mean extra games in London or even eventual relocation of their NFL team.
“I can’t understand why it was a bombshell,” Khan told reporters in Jacksonville back in April. “I have business deals and investments all over the world. So I don’t understand. Every time there’s a transition, it has visibility; and you folks start connecting dots that shouldn’t be connected.”
On Thursday afternoon, Khan issued a statement saying flatly, “Nothing has changed since April.”
“As first stated in April, one of the many benefits of the Jaguars’ commitment to London has been our partnership with the FA and Wembley Stadium. It ultimately became evident to us and the FA that the idea of our purchase of Wembley Stadium made a lot of sense for all of us, including the Jaguars and our goal for long-term sustainability in Jacksonville.
“If we are fortunate to ultimately be approved as the new owner and steward of Wembley, we would first and foremost operate the stadium with nothing less than exceptional care and respect. At the same time, the Jaguars’ investment in London as our home away from home, at a time when other NFL teams are becoming more interested in the UK, will be protected and enhanced. And here in Jacksonville, our footing as a small-market NFL franchise will be significantly strengthened by the new local revenue streams that we will be able to count on well into the future.
“Today was an important step forward in what is still a process. While I hope for a positive outcome, nothing changes my vision for redeveloping Downtown Jacksonville or commitment to bringing our first Super Bowl victory parade down Bay Street.”