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DCMS committee plan July meeting to discuss Wembley future

The future of Wembley will be discussed in Parliament in the summer after the Digital, Culture, Media and Sport (DCMS) Committee called on representatives of the Football Association and Sport England today to attend a one-off meeting on July 18 to talk about the national stadium.

Sports minister Tracey Crouch will also attend.

Shahid Khan, the owner of Fulham and the Jacksonville Jaguars in the NFL, has made the FA an offer of £800 million to purchase the 90,000-seater venue.

US billionaire Khan had been hopeful of completing a deal by August, but the proposed sale, and just how the FA would reinvest the windfall, has generated much debate.

A potential stumbling block, revealed in a daily newspaper, surrounds measures which were implemented to guarantee the FA commitment to the stadium for 50 years following an injection of £161m from public bodies during the redevelopment project, which was completed in 2007.

Those stem from the National Audit Office’s report of June 2003 into the “English national stadium project at Wembley,” which goes on to explain how “the public sector funders have secured protections to safeguard the public interest in the project.”

The NAO report said there were concerns “to safeguard the public interest by preventing the Football Association from appearing to profiteer, or destabilising the project, by taking windfall gains, including after refinancing.”

As such, protections were put in place stating the FA has to “retain a controlling interest in Wembley National Stadium Limited for 50 years from completion of the stadium and its ability to sell a minority interest is limited.”

The FA did not immediately respond when approached for additional comment.

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