Shahid Khan withdraws Wembley offer

Fulham owner Shahid Khan has withdrew his offer to buy Wembley Stadium from the Football Association.

Khan had offered £600m for the national stadium, with the FA retaining the Club Wembley hospitality rights, which it valued at £250m to £300m.

The FA had said it would invest the proceeds of the sale into improving grassroots football facilities.

BBC Sport reports that Khan has not ruled out making another bid in future if there is more support from FA Council members and said he would respect the "national treasure".

He wanted "to do right by everyone in a manner that strengthens the English game and brings people together, not divides them".

He added: "Unfortunately, given where we are today, I've concluded that the outcome of a vote next week would be far from sufficient in expressing the broad support favoured by the FA chairman to sell Wembley Stadium.

"Until a time when it is evident there is an unmistakable directive from the FA to explore and close a sale, I am respectfully withdrawing my offer to purchase Wembley Stadium."