Khan and the Football Association announced Wednesday that the Jacksonville Jaguars owner has withdrawn his unsolicited offer to purchase the London stadium.
"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 favored by the FA Chairman to sell Wembley Stadium," Khan said in a statement. "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."
Khan, who is principal owner of Fulham F.C. as well as the Jags, proposed purchasing the stadium earlier this year, an effort he argued would free up funds to allow the FA to allocate elsewhere.
"... At a recent meeting with Mr. Khan he expressed to us that, without stronger support from within the game, his offer is being seen as more divisive than it was anticipated to be and has decided to withdraw his proposal," FA chief executive Martin Glenn said in a statement. "Wembley Stadium is an iconic venue that is revered around world and it will continue to thrive under the ownership and direction of The FA."
This purchase had Khan potentially moving the Jags permanently to London, although he never admitted that was the case.
Here is Khan's complete statement on his decision: