Khan stressed his belief that it would allow the FA to reinvest the money generated from the sale into grassroots soccer, while strengthening the Jaguars position at home and abroad.
"If you've had the occasion to join us for one of our Jaguars home games in London, you know that Wembley Stadium is a very special place," added Khan.
"Our commitment to the FA is we will own and operate Wembley with the care and respect it deserves, always being mindful that it is -- and will continue to be -- the home of England's national teams as well as the ultimate destination for the world's top entertainment and sports event, including Jaguars and NFL games."
Khan's Jaguars have long been linked with a permanent move to the UK, with the billionaire also the owner of the Fulham soccer team, which plays in English football's second tier.
North London-based soccer team Tottenham opens its new stadium later this year and is due to host the Oakland Raiders and Seattle Seahawks on October 14.
A total of 317,000 spectators attended the four London-based 2017 NFL International Series games hosted at Wembley and the Twickenham rugby stadium.
The English Football Association confirmed Thursday it has received an offer to buy Wembley Stadium, while Shahid Khan, the owner of the NFL franchise Jacksonville Jaguars, revealed he was behind the reported $1.4 billion bid.
- FA receives offer to buy Wembley; NFL backs Shad Khan as new ownerESPN
- Report: Shad Khan to buy Wembley StadiumNBCSports.com
- Jaguars owner Shad Khan makes bid to buy Wembley StadiumWJXT News4JAX
- Wembley: NFL owner Shahid Khan makes bid for stadiumKEYT
- FA nets £600m Shahid Khan bid for Wembley StadiumSky News
- Wembley: Offer made to buy stadium amid reported NFL interestWPLG Local 10
- FA holds talks to sell stadium to Fulham owner Khan in £800m dealThe Guardian
- BC-SOC--Wembley-Future,1st Ld-WritethruThe Courier-Express
- Jaguars owner Shahid Khan looks to buy Wembley StadiumNew York Daily News