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Football Foundation statement on Wembley sale withdrawal

Football Foundation statement on Wembley sale withdrawal

Date published: 17/10/2018
News

“The news that Mr Khan has decided to withdraw his offer to buy Wembley Stadium should come as a huge disappointment to community footballers everywhere.  Since 2000, the Foundation has used £650 million of direct funding from the Premier League, The FA and Government to draw in a further £850 million, which has allowed the Foundation to invest in projects worth £1.5 billion.        

"An additional £600 million generated from the sale could have been turned into an additional £1.2 billion through working with local authorities, local education authorities and other organisations, which would have been added to a similar investment that is expected to be made over the next ten years – thereby doubling the investment, before any interest on the endowment fund was considered.

"Football participation in this country is huge.  Unfortunately, those who play the game as a sport, simply for the love of doing so and for the health benefits are having to put up with a stock of community football facilities that is in a shameful state.  This would have been a once in a life time opportunity to make considerable inroads into probably the most pressing issue facing football in this country.”

ENDS

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About the Football Foundation:

The Football Foundation is the UK’s largest sports charity. It was established in 2000 after the Premier League, The FA and the Government, via Sport England, joined forces to create an independent charitable vehicle to deliver their grassroots facilities investment.

Over the last 18 years it has delivered £1.5 billion of grassroots sports projects into local communities across the country. These have developed new or refurbished facilities, including high quality sports pitches and changing pavilions. These are fully sustainable and are increasing longer-term participation in our national game amongst a wide range of sections of society.

They are also vibrant community hubs that act as platforms on which a rage of benefits to wider society, beyond sport, can be developed. Many local people that participate each week at facilities funded by the Football Foundation are also improving their physical and mental well-being, gaining qualifications, coaching badges and career experience, as well as developing many other life skills.

To see the Foundation’s impact across the country visit: https://www.footballfoundation.org.uk/impact/where-our-money-goes/


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