Jaguars Owner Shad Khan Buys Wembley Stadium

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England's Football Association is in negotiations to sell Wembley Stadium, the home of the national soccer team, to USA billionaire Shahid Khan, owner of the Jacksonville Jaguars.

The Football Association (FA) is weighing up the offer, which was presented to the governing body's board on Thursday and comprises a sum up front plus the proceeds of future hospitality operations.

Fulham's billionaire owner Shahid Khan - the owner of the is the man who wants to buy the national stadium.

Wembley itself is also familiar to Florida-based businessman Khan - who is now valued at over $7.2 billion dollars - as his Jacksonville Jaguars team have played regular season games at the venue on five occasions.

The Football Association (FA) has confirmed receiving a bid for Wembley Stadium, in a deal Sky (Frankfurt: 893517 - news) sources understand to be worth at least £600m.

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"The Jaguars have played regular season home games at Wembley Stadium in each of the past five National Football League seasons and will continue to do so at least through the 2020 season", Khan said in a statement.

The bid, if successful, would bolster the NFL's expansion into the United Kingdom, giving the league a consistent location to host games and potentially setting the stage for a London-based team in the future.

Completed in 2007 at a reported cost of £800million, the 90,000-seater national stadium is one of the best sporting venues in Europe, and, despite the arch having long replaced the twin towers, remains steeped in nostalgia.

The team is scheduled to have a home game there in each of the next three seasons.

The stadium is now owned by the Football Association (FA) - an administrative body of English soccer - and was opened in 2007.

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If the offer does go through, then it could see more money pumped into grassroots football in the country, with the FA reportedly keen to use any potential funding to bolster English football.

England would go on the road for many games if the Jaguars moved to London.

Khan said England games would remain at Wembley and he would retain the stadium's name.

Khan insisted that his goal for the potential transaction is not to send the Jaguars to London, rather to strengthen the franchise.

For one thing, the FA would be relieved to get rid of outstanding debts of £142 million and concentrating more on talent hunting - England has not won the world cup since 1966 (and that was at Wembley under Bobby Moore whose statue graces the entrance to the stadium).

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Their statement on Thursday continued: In tandem with our 10-year partnership with Tottenham Hotspur, this new relationship would allow for even greater flexibility in scheduling future National Football League games in London.