Shahid Khan, the famous Pakistani-American businessman said he is withdrawing his offer to buy Wembley Stadium of London. This was announced by England’s governing Football Association on Wednesday, AFP reported.
Khan, who also owns a Premier League team Fulham, had previously offered £600 million ($800m) for the historic football stadium.
The deal could not materialize after the Football Association (FA) was widely criticized from within the association and from football frenzy fans for a plan to sell.
FA currently owns Wembley and it hosts all of England’s matches, the FA Cup final and Britain’s biggest sports events including NFL games, where Jaguars have participated year after year.
An investigation was also launched of ‘systemic corruption’ amid the talks of sale as Khan’s offer (£600 million) was told to be way too lesser than its original value of £900 million.
The Football Association Chairman, Greg Clarke, had said that they wanted to sell off the stadium in order to reinvest the amount in grassroots football.
Shahid Khan stated that the lack of backing from within the FA is the reason he is forced to withdraw the offer. He said he did not want to divide the football governing body, an FA senior official told AFP.
The intent of my efforts was, and is, to do right by everyone in a manner that strengthens the English game and brings people together, not divides them.
The Pakistan-origin business tycoon, however, did not completely rule out his plans and left a window open by saying he might pitch another offer sometime soon.
I cannot rule out revisiting the opportunity at another time when perhaps the Football Association family is unified in its views on the opportunity… Wembley Stadium is indeed a national treasure, one I would care for and respect for generations.”