An offer to buy Wembley Stadium from Fulham FC owner and billionaire Shahid Khan has been withdrawn.

Khan, who also owns the Jacksonville Jaguars NFL team and is a multi-billionaire had offered to buy the national stadium from the Football Association in April.

However as debate over the stadium's sale intensified, Mr Khan has now withdrawn his £600 million offer, the FA has revealed.

"Earlier this year, the FA received an unsolicited official offer from Shahid Khan to buy Wembley Stadium. It was a very credible offer and was given very serious consideration," said FA chief executive Martin Glenn.

"Shahid Khan has informed us today that he will be withdrawing his offer to buy the stadium - and we fully respect his decision."

Shahid Khan has now withdrawn his offer to buy Wembley Stadium

It was speculated that Khan owning the 90,000 capacity stadium would be used for regular fixtures for his American Football team the Jacksonville Jaguars.

Meanwhile Tottenham FC leadership had expressed concern over selling to the Fulham FC owner, with Tottenham using the stadium indefinitely while their White Hart Lane stadium is being renovated.

"Mr Khan believed that his offer to buy Wembley Stadium would release funds to help improve community football facilities in England and that it would be well received by all football stakeholders," Mr Glenn added.

"At a recent meeting with Mr Khan he expressed to us that, without stronger support from within the game, his offer is being seen as more divisive than it was anticipated to be and has decided to withdraw his proposal.

England won the 1966 World Cup at Wembley

"Wembley Stadium is an iconic venue that is revered around world and it will continue to thrive under the ownership and direction of The FA."

The first Wembley Stadium was built in 1923 and used as the main venue for the 1948 London Olympics and hosted England's only World Cup Final victory in 1966.

The stadium, including its iconic twin towers, was demolished in 2003 and rebuilt in 2007 with its new trademark arch.

As well as football matches for England and cup finals and qualifier matches, the stadium has been used for concerts, boxing matches and even American Football games, although it remains property of the FA.

American Football is often held at the stadium

"There has been much deliberation on both sides of this debate and it has undoubtedly raised awareness of the issue that community football facilities in England need significant investment, Mr Glenn concluded.

"We would like to thank the football stakeholders, Government, FA Board and Council members for their collaborative approach throughout this process.

"We will continue to work together to identify new and innovative ways of investing in community football facilities in the future."