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US Billionaire Poised To Purchase England's Legendary Wembley Stadium

London's Wembley Stadium might be in the hands of American billionaire Shahid Khan, pending the results of the country's Football Association, which currently owns the 90,000-seat venue.

According to Business Insider, if the 10-person board approves terms of the deal, Khan, who's been in talks with league brass since the spring, will get the legendary sports and special events facility for a cool $790.4 million. That's chump change for Khan, ranked 70th in Forbes' list of most wealthy Americans and estimated to be worth some $7.7 billion, up from $6.9 billion at the end of 2016.

The Pakistani native is also no stranger to the British Soccer scene, given that he owns English Premier League franchise Fulham F.C. In the U.S., Khan also owns the Jacksonville Jaguars who venture across the pond to Wembley Oct. 28, 2018, for an NFL match against the Philadelphia Eagles.

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Khan first earned his fortune as an engineer working for auto parts company Flex-N-Gate but worked himself up the organizational ranks to the point where he was able to buy the firm in 1980. Thanks to a unique truck bumper he designed, the company tasted success and has since expanded to an operation with more than 24,000 employees working in more than 60 plants around the world.

The 68-year-old entrepreneur's rags-to-riches story is often touted as an anecdotal episode of how an immigrant can realize the American Dream simply through diligence and hard work. He reportedly left Pakistan at the age of 16 with only $500 in his pocket and attended the University of Illinois Urbana-Champaign, while working as a dishwasher in the evening.

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Besides two professional sports teams, Khan also owned the Four Seasons Hotel in Toronto, which he purchased in 2016 for $225 million. He also owns a $200-million superyacht dubbed Kismet.

If Khan is able to add Wembley to his growing list of assets, he'll acquire a significant piece of English history. The current incarnation was built in 2003 on the site of the original stadium that has hosted several FA soccer matches and finals, groundbreaking rock concerts like Live Aid in 1985 as well as King George VI's legendary wartime address in 1939, immortalized in the Oscar-winning movie The King's Speech.

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