The sale of Wembley moved a step closer on Thursday after the Football Association announced plans to review the deal with the FA Council next month.
How the proposed £600million sale to Fulham and Jacksonville Jaguars owner Shahid Khan would be invested back into "football community facilities" will also be presented on October 11.
Thursday's announcement comes five months after the FA confirmed it had received an offer for the national stadium from Khan.
According to the Fulham owner, Wembley will be given a major refurbishment if a deal to sell the stadium goes through, and the 68-year-old has pledged to allow England to continue to play their home games at the venue.
An FA statement read: "The sale of Wembley Stadium, the negotiated protections and an outlined plan to invest £600m into football community facilities, were presented and discussed at The FA Board meeting today.
"Following on from this discussion, The FA Board has agreed to take the presentation to The FA Council to get its input now that the full facts are known."
"The news from today's FA board meeting is welcomed and encouraging," Khan said in a statement.
"I understand the discussion was open and thorough. One cannot ask for more as we continue to work through the process toward reaching an agreement that will serve English football for generations to come."
The FA Council is chaired by Greg Clarke and includes representatives from the Premier League and the Football League.
The FA has owned Wembley Stadium since its construction was completed back in 2007 but it appears that a new era may soon be dawning for the famous English venue.