The English Football Association (FA) is reportedly welcoming additional bids for Wembley Stadium to try and increase the offer it has already received from Shahid Khan.
In April, US billionaire Khan submitted a bid worth a reported £600m for England’s national stadium, which is owned by the FA.
The deal is expected to go through, but the Evening Standard newspaper reported that the FA has asked investment bank NM Rothschild, its advisor on the sale, to “actively make it clear we are open to offers” after the summer. According to the Standard, at least three other parties have expressed an interest in purchasing the stadium.
Khan owns NFL American football team the Jacksonville Jaguars, which have a deal in place to play annual games in London until 2020. He also owns recently-promoted Premier League football club Fulham.
Any money generated from the sale of Wembley would mostly be donated to grassroots football initiatives and the FA is keen to ramp up the value of the deal. According to the Standard, Khan’s initial bid was worth just £200m.
The newspaper added that the FA would only entertain other bidders once certain “rules of engagement” – which include a guarantee that Wembley will retain hosting rights to major events – have been agreed upon with Khan.
Wembley has a capacity of 90,000 and hosts England national team matches, as well as the FA Cup final and semi-finals. Finals of the English Football League’s play-offs and cup competitions are also held at the stadium.