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Sale of the Jaguars to Shahid Khan Approved

During today’s league meetings in Irving, Texas, NFL owners have unanimously approved Wayne Weaver’s sale of the Jaguars to Illinois businessman Shahid Khan.

Khan’s purchase received the blessing from both the NFL’s finance committee and NFL Commissioner Roger Goodell, making today’s vote more of a procedural matter. Khan will officially take over the day-to-day operations of the club on January 4.

To become the first minority owner in league history, it’s been reported that Khan will pay $760 million for the Jaguars. Born in Pakistan, Khan moved to the United States as a teenager and attended the University of Illinois. Khan, 61, made his money by running Flex-N-Gate Corp, a multi-billion dollar auto parts manufacturer, and previously attempted to purchase the St. Louis Rams.

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