On Thursday, the English Football Association (FA) received that it had accepted an offer for the sale of Wembley.
The national stadium has long been an iconic venue in the game, most notably for the famous twin towers, which stood guard at the entrance of the ground until its redevelopment, which began in 2003. Those saw five European Cup finals and memorably the World Cup final of 1996.
Since the ground was reopened in 2007, it has been the arch over the ground that has become the trademark of the home of the England national team.
But will things change now it is under new ownership? Goal answers your questions.
How much will Wembley be sold for?
The first communication that the association gave towards the matter was a short tweet on Friday , which read: “We can confirm that The FA has received an offer to buy Wembley Stadium.”
While it has "unanimously" decided to sell , there has been no indication of how much for, although reports suggest it will be in the region of £600-800 million.
The FA has promised to put proceeds of the sale back into grassroots football, which could equate to around 1,500 new pitches around the country.
Meanwhile, the FA would retain the £300m revenue from the Club Wembley hospitality business.
Who is buying Wembley?
Billionaire Shahid Khan is the man behind the bid . Born in Pakistan, he now stays in Florida and is reportedly worth $7.2 billion (£5.2bn), making him the 217th wealthiest person in the world in 2018 according to Forbes.
He is most notably the owner of NFL franchise Jacksonville Jaguars, and it is believed that his move to purchase Wembley is designed for the sport to gain a greater foothold in the UK.
"One of the many benefits of the Jaguars' commitment to London has been our partnership with the FA and Wembley Stadium. Over the past several years, it became clearer to us and the FA that the idea of our purchase of Wembley Stadium made a lot of sense for all of us,” he said in a statement.
"For the FA, it would mean Wembley Stadium returning to private ownership, permitting the FA to direct its full attention to its mandate to develop talent and serve the game with the vast resources it would realize from the sale. For the Jaguars, it would deliver another – and very significant – asset and local revenue source that would further strengthen our investment in London, which as everyone knows is crucial to the Jaguars' continued sustainability in Jacksonville.
"In every respect, the Jaguars' standing in London would be improved and dramatically enhanced if we are fortunate to be approved as the new owner and steward of Wembley Stadium, and that's good news for the Jaguars and all of Jacksonville.”
Khan is also the owner of London football team Fulham, who are pushing for promotion into the Premier League for the 2018-19 season.
His other business interests include automotive manufacturing company Flex-N-Gate and the Toronto Four Seasons hotel.
Will England still play at Wembley?
“Our commitment to the FA is we will own and operate Wembley with the care and respect it deserves, always being mindful that it is – and will continue to be – the home of England's national teams as well as the ultimate destination for the world's top entertainment and sports event, including Jaguars and NFL games,” he has explained.
The Three Lions' home will, therefore, remain in London.
Showcase events such as the FA Cup final and the playoff finals will also be unaffected, while the same applies to rugby league's Challenge Cup final.
If Khan was to sell the stadium in the future, however, there is some doubt placed over these events.