Wembley sale to American billionaire set to fail for 1 major reason

Wembley sale to American billionaire set to fail for 1 major reason

The proposed sale of Wembly to American billionaire and Fulham owner Shahid Khan may not happen after all, with 12 days left to October 24, decision day.
According to a UK Sun report, the 127 members of the amateur game representatives on the FA council could not agree terms on how the expected £600m deal should be shared, during Wednesday's meeting that lasted for three hours.
In the meeting proper, council chairman Greg Clarke and chief executive Martin Glenn, explained to members while the deal might not be necessary.

He also revealed how the FA could save about £72m in the next 42 days from stadium repair expenses.
At the end of his speech, many of the amateur game representatives present could not come to terms with the fine print of the deal, which would see Khan cough out £600m up front plus another £300m in future Club Wembley revenues.
Equally, other reps cast doubt over the delivery of £500m subsequent investment across nationwide grassroots facilities, which will include pitches and changing rooms.

However, the voting ceremony still scheduled for October 24, may not get the required support to allow for Clarke continue with the Wembley sale project.
Overall, the present mood suggest the plan to sell Wembley may be dropped due to lack of backing.

"Today's FA Council meeting included a presentation and healthy discussion on the potential sale of Wembley Stadium. The full facts and figures of a £600m investment to improve community football facilities in England were outlined.

"The presentation also included detailed information on the commercial deal that has been discussed, including the protections that will be in place to ensure its status as the national stadium and the home of English football.
"A special meeting has been scheduled on Wednesday 24 October for The FA Council members to vote on the potential sale. The FA Board will then take these views into consideration,"
a statement from the FA read in part.

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