Pakistan-born American businessman Shahid Khan takes over Jaguars, It’s official now – NFL News
Shahid Khan, the Illinois-based Pakistan-born American businessman, has officially taken over the Jacksonville Jaguars, and by doing he has become the first ethnic minority member to own and manage an American professional football league, National Football
League’s (NFL) franchise.
Wayne Weaver, the Jaguars former owner sold the franchise to Mr. Khan in a $770 million deal reached between the two parties on November 29, 2011.
The deal had to pass regulatory challenges before being declared closed and giving the ownerships rights to Shahid officially.
It was declared successful and closed on January 04, 2012 afternoon and Shahid Khan took over the management affairs of the team straightaway.
Mr. Khan’s Jags acquisition was backed by the NFL commissioner Roger Goodell soon after its announcement. It then secured approval of the NFL Finance Committee on December 06, 2011.
NFL’s franchise owners committee also gave green signal to the deal at their meeting held on December 16, 2011. It was then that Mr. Khan was a confirmed as owner of the Jags but had to wait a bit longer to claim the rights of the club.
It is not for the first time that Shahid Khan had bid for an American football team. He made an unsuccessful attempt to buy St. Louis Rams a year earlier but lost the opportunity to another competitor.
This reflects on the Shahid Khan’s genuine interest in the game of American football, a fact that is acknowledged by the Jaguars former owner.
In his post-deal comments Weaver said that he had a "great confidence in Shad and his family (and) that the franchise is in good hands."
One of the sureties that Wayner Weaver said he had secured at the time of selling of the team to Shahid Khan was keeping the franchise at its present headquarters in the Jacksonville.
Despite that Shahid has not made a clear statement on keeping the Jags in the Jacksonville he said that he will not disappoint his fans while making a decision on the front.
Almost all members of the team and its management, present and former players, notables in the city and more importantly fans have accepted and greeted Shahid has a new owner of their side.
The fans appearing in the very first game since announcement of the deal had worn shirts with slogans ‘We Yes Khan’ described on them. They also sported fake moustache during the game resembling Khan’s moustache, a typical trademark of the businessman.
Shahid Khan who moved to America from Pakistan for studies at the age of 16 has built a business empire of automobile parts. He and his family are also known philanthropists in the US.
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