Skip to content
Search

Latest Stories

Shahid Khan primed to take over ownership of Wembley

The Football Association is all set to sell Wembley stadium to Shahid Khan, the billionaire owner of Fulham football club. The deal is worth almost £900m, reports indicate.

According to the Guardian, Shahid Khan, who owns the Jacksonville Jaguars American football team, has made an offer of a £600m lump sum and the Football Association would be allowed to retain the revenue generated by Club Wembley, whose business is valued at around £300m.


Khan told the publication that he hoped the deal would be completed within three months.

Although he does not want to change the name of the stadium, Khan, who is estimated to be worth £5.2bn, told the Guardian he has plans to make upgrades to the stadium.

“I love Wembley as a stadium, as an institution,” he said. “I think it’s under-utilised. The legacy of Wembley as the temple of English football is important. We want it to stay that way and to also have other events including NFL games. I think it needs investment and updating. Compared to American stadiums the video boards are something that need to be looked at. The lounges are a little bit dated. There are some standard issues that have to be dealt with.”

“But the name of Wembley will stay,” he added. “That is, to me, holy.”

Who is Shahid Khan?

The 67-year-old, originally from Pakistan, is today the 217th richest person in the world. He was born in Lahore in 1950 to Zakia, a maths professir, and Rafiq, a businessman who sold surveying equipment.

Right from an early age, Khan showcased his entrepreneurial skills by selling radios and renting out his comic books to his classmates.

At 16, Khan moved to the US to study mechanical engineering at the University of Illinois in Champaign-Urbana. He had just $500 to his name and he quickly became concerned that he would run out of money. This worry was the catalyst that got him his first job - washing dishes for just $1.20 an hour.

It wasn't long before he started working at automotive manufacturing company Flex-N-Gate, and he bought the company for $800,000 about 13 years after he landed in the US.

In 1991, Khan became a US citizen. In 2010, he attempted to rekindle his passion for sports by trying to purchase 60 per cent of the NFL side St Louis Rams. However, he soon met a hurdle in the form of Arsenal owner Stan Kroenke. A year later, Khan purchased the Jacksonville Jaguars at a cost of $770m.

More For You

‘All options on the table’ as Britain
prepares for likelihood of US tariffs

Sir Keir Starmer with Jonathan Reynolds

‘All options on the table’ as Britain prepares for likelihood of US tariffs

BRITAIN is likely to be hit by US tariffs despite making “rapid progress” over a trade deal with Washington, prime minister Sir Keir Starmer said on Tuesday (1).

He spoke as US trading partners around the world braced for an expected fresh raft of tariffs from president Donald Trump, in addition to levies already imposed on steel and those set to take effect this week on cars.

Keep ReadingShow less
single-use vapes-iStock

Analysis by Material Focus estimates that 8.2 million vapes are discarded or littered each week in the UK—equivalent to 13 every second. (Representational image: iStock)

iStock

Shops told to clear single-use vapes before ban starts on June 1

SHOPS across the UK have until 1 June 2025 to sell off remaining stocks of single-use vapes before a nationwide ban comes into force.

The legislation, confirmed last year, follows a government consultation that showed strong support for restricting their sale and supply.

Keep ReadingShow less
Primark-London-Getty

During his 15-year tenure, Marchant expanded Primark’s store network to more than 450 locations across 17 countries in Europe and the United States. (Photo: Reuters)

Primark chief Paul Marchant steps down after misconduct probe

PAUL MARCHANT, the head of fashion retailer Primark, has resigned with immediate effect after admitting to an "error of judgment" in his behaviour towards a woman in a social setting.

Associated British Foods (AB Foods), Primark's parent company, announced his resignation on Monday.

Keep ReadingShow less
Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

JAGUAR’S ambition to seduce younger, richer drivers was on full display in Paris with a presentation of its newest prototype, the Type 00, which promises all-electric luxury... at a steep price.

The low-slung, muscular-looking concept car presented to European reporters last Friday (21) prefigures a production model expected mid-2026 at a base cost of €150,000 (£123,472.8).

Keep ReadingShow less
Starmer-Trump-Getty

Trump has suggested the possibility of a 'great' trade deal that could help the UK mitigate the impact of tariffs he has pledged to introduce. (Photo: Getty Images)

Starmer, Trump talk trade deal progress in 'productive' discussion

KEIR STARMER and Donald Trump spoke on Sunday about ongoing UK-US trade negotiations, with Downing Street describing the talks as "productive."

Since leaving the European Union, the UK has been working to secure a trade agreement with the United States. Successive British governments have pursued a deal, but it has remained elusive.

Keep ReadingShow less