Shahid Khan is said to be "in the box seat" in the negotiations to buy Wembley Stadium.GETTY IMAGES
The sale of Wembley Stadium will be opened to other bidders in the autumn "in a bid to flush out a higher offer" than the £600M ($802.6M) on the table from EPL side Fulham Owner Shahid Khan, according to Prynn & Olley of the London EVENING STANDARD. FA execs "have already been approached by at least three other potential buyers" since it was revealed last month that they "have been in talks" with the U.S. billionaire, who also owns the NFL Jacksonville Jaguars. Although Khan is said to be "in the box seat" in the negotiations, the FA team leading the talks is "keen" for the sale not to be seen as "a done deal." It is understood that the FA's adviser, investment bank NM Rothschild, has been instructed to "actively make it clear we are open to offers" after the summer. A higher price "could allow more money to be ploughed back into grassroots football through new all-weather pitches and improvements to existing grass playing surfaces." Khan reportedly originally offered "just" £200M ($267.5M) but was "persuaded that the stadium was worth far more because of its potential for hosting an NFL franchise." The FA will insist on a "golden share"-type mechanism in any sale agreement "so that it can block a resale to another owner thought to be an unsuitable custodian of the national stadium." FA officials led by CEO Martin Glenn are "locked in detailed discussions" with Khan's team about legal safeguards that will "allay fears that the sale could leave English football locked out of its traditional home ground." The approaches made since Khan's offer was made public have come from property and private equity companies and "are not thought to be viable." A spokesperson for Khan declined to comment and the FA "would not comment" (EVENING STANDARD, 6/11).
