Shahid Khan would not be permitted to rename Wembley Stadium until 2057 should he be successful in his bid to purchase the venue from the English Football Association, according to The Times.
US billionaire Khan, who owns the Jacksonville Jaguars NFL team and newly-promoted Premier League club Fulham, has submitted a bid worth in the region of £900m to purchase England’s national stadium.
The Times notes that the FA council is holding a meeting today (Tuesday) to discuss the proposed sale, with a number of restrictions, including the prevention of a naming-rights deal being signed, to be imposed upon Khan should the deal be concluded.
According to The Times, the restrictions were imposed when the redeveloped Wembley opened in 2007, and lasts 50 years. The newspaper said that Khan would be banned from renaming the stadium, would have to seek government approval if he wishes to sell the stadium in the future, and ensure that 80,000 seats are provided and be fully covered by a roof.
Other rules, according to The Times, include Wembley having to remain as the national stadium and the home of English football, and the stadium continuing to host FA Cup and League Cup finals, play-off finals and rugby league matches.
Khan’s Jaguars have a multi-year deal in place to play matches at Wembley. The FA would seek to reinvest the money it would receive from the deal into grassroots football and the deal is said to be in the best interests of all parties.
The Times noted, however, that one potential issue could arise with the amount of money the FA can guarantee will be set aside for artificial pitches, with Premier League and Football League clubs set to seek a share of any money generated.
Image: M(e)ister Eiskalt