• Stadium sale could mean 10-year bonanza, claims FA • Martin Glenn says proposed sale is not selling ‘soul of the game’

The Football Association has told its council members that selling Wembley could enable more than £1bn to be spent on community football facilities over 10 years, while having £450m from the sale still untouched in the bank.

The FA chief executive, Martin Glenn, said in a speech to the council that the proposed sale of Wembley for £600m to the Fulham and Jacksonville Jaguars NFL team owner, Shahid Khan, is not selling the “soul of the game” but “an opportunity to unleash an unprecedented amount of investment into community football”.

According to people present, some council members did voice opposition in principle to the FA selling the national stadium, having worked hard to pay down much of the £426m it borrowed to have Wembley rebuilt and opened in 2007.

Other council members spoke in support, persuaded that a sale will release investment to improve dilapidated grassroots facilities nationwide. Others asked Glenn and the chairman, Greg Clarke, specific questions about the deal’s main essentials, including how far England and other prestige football matches will be guaranteed to take place in the stadium – the FA has said these and the stadium’s name will be protected until 2057 – how the money would be spent and whether £600m is enough money.

The FA should not be selling Wembley at all, let alone for £600m | Richard Williams Read more

The FA is relying on the City bank Rothschild for advice that the price represents good value; Clarke stressed to council members last week that £600m was not the first offer from Khan, who wants Wembley as a London base for his NFL franchise.

Glenn explained that reaching the £1bn figure relies on the FA securing further “match” funding for facilities improvements locally, which will be difficult given severe government cuts to local authorities.

From next year investment in community facilities by the FA, Premier League and government via the Football Foundation will be £70m annually.

Glenn projected that only £150m of the £600m proceeds of the Wembley sale would be spent initially, with the other £450m invested, to generate £30m annual interest.

Of the £150m, Glenn said £50m a year would boost annual investment from the current £70m to £120m every year for three years. With “match funding”, he forecast this £360m would increase to around £500m “accelerated investment”. In succeeding years, the £30m interest would be added to the £70m regular capital investment fund, with a further £30m expected from match funding, Glenn said.

“By 2030, just over 10 years from the completion of a potential sale, we could have invested over £1bn on community football facilities – and still have a £450m capital fund untouched,” he told the council.

The FA also released research on the national state of public football facilities, which found only one in three pitches is of “adequate” quality and that 75% of grassroots players surveyed are not satisfied by the availability of grass pitches. Last season, one in six matches was called off “due to poor pitch quality”.

A major focus of investment is more 3G all-weather pitches. Glenn told the council the proposed investment would produce a doubling of 3G pitches, a “hub facility” for every County Football Association, “major investment” into grass pitches and other improvements.

The Fiver: sign up and get our daily football email.

He also addressed the demand made by the EFL, which has insisted that under the FA’s financial arrangements half the proceeds should go to professional clubs for community‑focused investment. FA executives believe that can form part of the deal, Glenn referring to professional game “community trusts and foundations” having improved facilities for football projects.

“Receiving an offer to sell Wembley Stadium is not a betrayal,” he said. “It is not selling the soul of the game. What we have in front of us is simply an opportunity.”

The FA will continue to consult its council and board members, who include Premier League and EFL representatives, before a decision is reached.