Wembley Stadium is one of the most iconic sports venues on earth. With 90,000 seats, it is the largest stadium in the United Kingdom, the largest football stadium in England, and the second-largest in all of Europe.
Every FA Cup Final, every England home game, every NFL London Series match — they all happen under that unmistakable arch that towers 134 metres above North-West London. But who actually owns it?
Who Owns Wembley Stadium in 2026?
Wembley Stadium is owned by The Football Association — the governing body of English football — through its wholly owned subsidiary Wembley National Stadium Limited (WNSL).
The FA has its own headquarters inside the stadium building, making Wembley not just a venue but the physical home of English football’s governing institution.
WNSL is the entity that handles the day-to-day operation and management of the stadium. The FA holds 100% of WNSL, which in turn holds 100% of the stadium. It is a fully private ownership structure — there are no public shareholders, no private equity backers, and no outside investors holding any equity in the building.
Ownership and Key Stakeholders Table
| Party | Role | Stake | Key Detail |
|---|---|---|---|
| The Football Association (FA) | Legal Owner | 100% via WNSL | Governing body of English football; FA HQ is inside the stadium |
| Wembley National Stadium Limited (WNSL) | Operating Subsidiary | Wholly owned by the FA | Manages all stadium operations, events, and commercial activities |
| EE (BT Group) | Title Naming Sponsor | No equity | Lead partner until 2028; stadium officially called “Wembley Stadium connected by EE” |
| Emirates | FA Cup Sponsor | No equity | Global title partner of the men’s FA Cup; based at Wembley |
| Hilton Hotels | Official Hotel Partner | No equity | Three-year deal signed April 2025; FA’s official hotel partner |
| Multiplex | Original Builder | No equity | Australian construction firm that built the current stadium for £798 million |
| Sport England | Construction Funder (Historical) | No equity | Co-funded the original construction alongside the FA and government bodies |
| Shahid Khan | Failed Bidder (2018) | Never acquired | Pakistani-American billionaire offered ~£600M; FA members voted the sale down |
The Origin Story: From Empire Exhibition to National Stadium
The story of Wembley begins not with football but with a British Empire Exhibition and a stadium that had to be built in just 300 days.
The original Wembley Stadium — known then as the Empire Stadium — was constructed in 1923 to house the British Empire Exhibition of 1924–25.
It was finished just in time to host the 1923 FA Cup Final between Bolton Wanderers and West Ham United, famously remembered as the “White Horse Final” after a police officer on a white horse named Billy helped control an enormous crowd that spilled onto the pitch. The stadium became the permanent home of English football finals and England internationals almost immediately.
The original stadium hosted the 1966 FIFA World Cup Final, where England beat West Germany 4–2 to claim the only major international trophy in English football history. It hosted the 1948 Summer Olympics, the 1996 UEFA European Championship, and more FA Cup Finals than any other venue on earth.
By 2000, the old stadium was crumbling and beyond repair. The decision was made to demolish it entirely and build a modern replacement on the same site. The twin towers that had defined the Wembley skyline for 79 years were demolished in 2003 — a decision that remains controversial among older English football supporters to this day.
Building the New Wembley: A £798 Million Project
The new Wembley Stadium was built between 2003 and 2007 by Australian construction firm Multiplex, at a final cost of £798 million — making it one of the most expensive stadiums ever built anywhere in the world.
The architects were Populous (then called HOK Sport) and Foster + Partners, with planning consultants Nathaniel Lichfield and Partners. The defining feature of the new design is the Wembley Arch — a 134-metre-high steel arch that spans the entire width of the stadium and supports over 75% of the roof’s total load. It is visible across much of London and has become as iconic as the twin towers it replaced.
The stadium officially opened on 9 March 2007 with an England under-21 match against Italy. The first FA Cup Final at the new Wembley was held on 19 May 2007, with Chelsea defeating Manchester United. With a seating capacity of 90,000, the new Wembley became the largest stadium in the UK and the largest football stadium in England instantly upon opening.
The construction was funded by a combination of Sport England, the Football Association, WNSL, the Department for Digital, Culture, Media & Sport, and the London Development Agency.
The EE Naming Rights Deal
The official name of Wembley Stadium since 2015 has been “Wembley Stadium connected by EE” — a sponsorship arrangement between the FA and EE, the UK’s largest mobile network, which is owned by BT Group.
In January 2025, the FA extended this partnership for a further four years, keeping EE as lead partner through to 2028. Under the deal, EE oversees the 4G and 5G connectivity infrastructure at the stadium — a critical element given that mobile data usage at Wembley increased by over 80% in 2024 alone.
An estimated 15 million fans have benefitted from EE’s purpose-built connectivity since the partnership began. The naming rights deal is commercial only — EE holds no equity in the stadium or in WNSL.
The Shahid Khan Bid: The Closest Wembley Came to a Sale
The most dramatic moment in Wembley’s modern ownership history did not involve a demolition or a rebuild — it involved a vote that came down to a matter of margins.
In 2018, Shahid Khan — the Pakistani-American billionaire who owns Fulham FC in the Premier League and the Jacksonville Jaguars in the NFL — made a formal offer to buy Wembley Stadium from the FA for approximately £600 million (around $840 million at the time). The FA board agreed to the sale in principle, and the deal was widely expected to go through.
But the FA Council — the broader representative body of English football — voted on the sale and rejected it. The backlash from fans, former players, and grassroots football organisations had been fierce. England World Cup winner Gordon Banks had publicly opposed the sale.
Critics argued that selling the national stadium to a private owner, even one with strong ties to English football like Khan, would be a betrayal of the game’s identity.
Khan walked away without making a counter-bid. Wembley remained in FA ownership — where it has been ever since. Khan remains deeply connected to English football through Fulham and his superyacht Kismet, which docks on the Thames during the Jaguars’ annual London games. You can read more about Khan’s sports empire in the full story of who owns Kismet Yacht.
What Happens at Wembley Stadium Today?
Wembley in 2026 is more than a football ground — it is one of the busiest live event venues in the world.
On the football side, the stadium hosts all England home internationals, the Emirates FA Cup Final, the FA Community Shield, the League Cup Final (Carabao Cup), and FA Cup Semi-Finals. In May 2026, both the FA Trophy Final and the 2025–26 FA Cup Final (won by Manchester City) were held at Wembley.
The NFL has used Wembley as part of its International Series — bringing regular-season games to London — and the stadium extended its hosting deal for 2025. The UEFA Champions League has been held at Wembley multiple times, including in 2011, 2013, and 2023.
Beyond sport, Wembley is one of the world’s premier concert venues. In the 2024–25 season, Taylor Swift performed eight consecutive nights at Wembley as part of her Eras Tour — the highest-grossing music tour in history. Oasis also sold out Wembley as part of their reunion, contributing to a record commercial year for the FA and WNSL.
The FA’s Financial Position
The FA reported strong commercial performance in its 2024–25 annual report, with record sponsorship revenues driven by new deals and significant renewals. Key partnerships include EE (lead partner through 2028), Emirates (global title partner of the FA Cup), and Hilton Hotels (official hotel partner from April 2025).
Wembley National Stadium Limited had previously reported losses — including a £19.6 million loss in one recent season linked to poor VIP seat sales — but the record commercial income from Taylor Swift, Oasis, and major sporting events has offset those pressures significantly.
Frequently Asked Questions (FAQs)
Q1. Who owns Wembley Stadium in 2026?
Wembley Stadium is owned by The Football Association (FA) through its wholly owned subsidiary Wembley National Stadium Limited (WNSL).
Q2. How much did it cost to build Wembley Stadium?
The current Wembley Stadium was built at a final cost of £798 million by Australian construction firm Multiplex, opening in March 2007.
Q3. Why is it called “Wembley Stadium connected by EE”?
EE, the UK’s largest mobile network owned by BT Group, holds naming rights as the stadium’s lead sponsor — a deal extended through 2028 in January 2025.
Q4. Did Shahid Khan try to buy Wembley?
Yes. In 2018, Shahid Khan offered approximately £600 million for Wembley, but the FA Council voted to reject the sale amid significant public opposition.
Q5. How many seats does Wembley Stadium have?
Wembley Stadium has a seating capacity of 90,000, making it the largest stadium in the UK and the second-largest in Europe.
Q6. What events are held at Wembley Stadium?
Wembley hosts England football internationals, the FA Cup Final, the League Cup Final, NFL London games, UEFA finals, and major music concerts including Taylor Swift’s Eras Tour in 2024–25.
Q7. When was the current Wembley Stadium built?
Construction began in September 2002 and the stadium officially opened on 9 March 2007, replacing the original Wembley Stadium that had stood since 1923.
Q8. Is Wembley Stadium publicly traded?
No. Wembley is a private asset owned entirely by the FA — there are no shares available for public purchase and no stock exchange listing.
Wembley Stadium is owned by The Football Association through its subsidiary Wembley National Stadium Limited (WNSL). It is a 100% FA-owned asset, with no private investors or public shareholders.
Built between 2003 and 2007 at a cost of £798 million by Australian firm Multiplex, it is the largest stadium in the UK, the largest football stadium in England, and the second-largest in Europe with 90,000 seats.
The stadium is officially named “Wembley Stadium connected by EE” under a sponsorship partnership extended through 2028.
It came close to private ownership in 2018 when Shahid Khan offered £600 million — but FA Council members voted the sale down, and Wembley has remained in FA hands ever since. Given the record commercial revenues flowing through it in 2026, the pressure to sell appears to have subsided completely.