Khan, who also owns the Fulham Football Club, announced his attempt to purchase the stadium, which hosted its first American Football game in 2007. The Jaguars have played a match at Wembley each season since 2013.
"I am very pleased to learn today that The Football Association board of directors received our offer to purchase Wembley Stadium, our home away from home in London, from the FA," Shad said in a statement.
The Evening Standard reported Khan offered more than 500 million pounds (about $700 million) for the stadium.
Khan's attempt to purchase Wembley stadium will come with another round of speculation about the Jaguars possibly moving to London. The owner flatly rejected that notion.
"Today's news changes none of what we envision for the long-term promise for the Jaguars here in Jax, and it changes nothing as to the goals we have for your downtown," Khan said. " If anything, today's news is the embodiment of the ethos we adopted several years ago of being proud, bold and committed."
Khan noted that buying Wembley stadium would "protect the Jaguars' position in London at a time when other NFL teams are understandably becoming more interested in this great city."