The FA Reach Agreement to Sell 'Home of Football' to American Businessman for £600m

The FA have reached an agreement to sell Wembley Stadium to the owner of Fulham and NFL franchise Jacksonville Jaguars Shahid Khan for £600m.Khan has been in

The FA have reached an agreement to sell Wembley Stadium to the owner of Fulham and NFL franchise Jacksonville Jaguars Shahid Khan for £600m.

Khan has been in negotiations regarding the purchase of the stadium since early April with the vision of strengthening his NFL team's presence in London - given the growth of the grid iron across the pond in recent years - and it looks as though he'll get the chance to do just that.

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According to the Financial Times, an outline deal has been agreed between the two parties for Khan to purchase the stadium off the FA for £600m, with the proposal now set to go through a ten-man panel from the FA for approval on Thursday. Should the panel accept the terms, the proposal will then be put in front of the FA's 127-man council in October.

Reports have suggested there is a minority part of the council who's intentions for the deal are unknown, with a source close to the deal stating: “All the wind is positive (between Mr Khan and the FA’s negotiating teams) but the decision rests with these guys who may be voting with pure emotion."

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Regardless, it's not just Khan who is set to benefit from the deal should it go through, with the FA insisting all funds raised from the sale of the iconic stadium will be injected into grassroots football. The agreement also means we won't see too many drastic changes with Wembley set to continue hosting the England national team along with domestic cup finals. 

The price set to be paid by the American entrepreneur has raised some questions among the public, with critics arguing that the stadium's re-construction costs alone stood at £789m. Others argue that the stadium is only worth what someone is willing to pay for it.

As for Fulham fans, they'll be pleased to know that the deal will not affect the club's prospects for Craven Cottage, with plans currently in place to redevelop the stadium and training ground.