facebook
twitter
search
search

NFL approves Jacksonville Jaguars sale

Dec. 15, 2011 at 4:29 PM
1 of 3
| License Photo

IRVING, Texas, Dec. 15 (UPI) -- National Football League owners have unanimously approved the sale of the Jacksonville Jaguars to Shahid Khan, making Khan the NFL's first minority owner.

Khan purchased the franchise from owner Wayne Weaver for $760 million. Weaver helped Jacksonville acquire the expansion team in 1993 and has been its sole owner.

"Eighteen great years in the National Football League and I've enjoyed every one of them," Weaver told The (Jacksonville) Florida Times-Union. "It's the right time. I found a great family that's going to continue this legacy."

Khan, a Pakistan-born, 61-year-old auto parts manufacturing magnate who immigrated to the United States at age 16, was praised by NFL owners meeting in Irving, Texas, Wednesday.

He said he has no plans to relocate the team.

"It's almost 2012. It's about time," said New York Giants owner John Mara.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Topics: Wayne Weaver
Latest Headlines
Top Stories
Earnhardt wins as Dillon crashes at Daytona finish
Los Angeles Lakers sign G Williams
Women's World Cup: Lloyd leads USA to title
Detroit Pistons agree to deal with PG Jackson
Lynn, Pham carry St. Louis Cardinals past San Diego Padres