Fulham owner Shahid Khan has made an offer, thought to be worth £800m, to buy Wembley Stadium from the Football Association.
It is understood Khan’s bid includes £500m for the stadium and £300m for the FA to keep the Club Wembley debenture and hospitality business.
The FA board discussed the approach at a meeting on Thursday.
“We would strive to be the best possible steward for a venue that is iconic,” said Khan.
The owner of NFL side Jacksonville Jaguars added: “Wembley would return to private ownership and The Football Association would be able to focus on its core mission of developing players.
“I trust many if not most of you are also supporters of the England national teams, so I hope you welcome the potential of this becoming a reality.”
Fulham coach Slavisa Jokanovic said at a news conference on Thursday that Khan told him “about his plan a year and a half ago. He’s very ambitious.”
BBC Sport understands selling Wembley would allow the FA to make a major investment into football at grassroots level.
The 90,000-seat stadium, which is the largest in the United Kingdom, cost £757m to build and opened in 2007.
The FA said in January it would finish paying for the ground by the end of 2024.
Tottenham have played their home Premier League games at Wembley this season while work on their new stadium takes place.