The Department of Culture, Media and Sport will hold an evidence session on the proposed sale of Wembley Stadium in July.
Shahid Khan, owner of Fulham FC and NFL franchise Jacksonville Jaguars, has made an offer for the home of England's national football team which he told Sky Sports News last week was worth £1billion.
Khan hoped the deal would be completed in time for the start of the 2018-19 season in August, with grassroots football set to benefit from the sale.
The Government and Sport England have offered provisional support for the sale, but because Wembley Stadium is seen as a national asset, the DCMS confirmed on Friday that a one-off evidence session on the future of Wembley has been scheduled for July 18.
Damian Collins, chair of the DCMS Committee, said: "Wembley is the home of English football, built in part using public money.
"There should be some public scrutiny of any decision to sell the stadium and how proceeds from this could be invested to benefit the long-term future of the game.
"The Committee is interested in understanding the details of the FA's proposals and receiving evidence from people who may hold alternative views."
A statement from the DCMS also confirmed that the Football Association and Sport England had been invited to give evidence, along with the DCMS Minister responsible for sport, Tracey Crouch.
Written submissions from interested parties have also been requested, with the deadline for those set at June 28.
Subjects to be discussed include any benefits derived, and risks incurred, by the sale of Wembley, how any proceeds should be used and what impact any sale might have on the future of English football.
The Football Association has confirmed it will take part, with a statement reading: "We welcome the offer for an open discussion with the Select Committee for Digital, Culture, Media & Sport [DCMS] about Wembley Stadium.
"Although we have not accepted any offers, it's an opportunity to talk about the future of the stadium, gain further input from key stakeholders and discuss our thorough review process of the offer that we have received."