A bid has been entered to purchase iconic Wembley Stadium in London. The 90,000-capacity stadium was rebuilt in 2007 is home to the England National Football Team. Shahid Khan, the owner of NFL’s Jacksonville Jaguars, and Championship club Fulham bid $698 million US for the property.

Khan is currently engaged in an outline agreement with FA boss Martin Glenn to transfer the property. The bid was confirmed by an FA Stadium representative in an official statement released on Thursday.

It is the first time that Wembley will belong to foreign ownership.