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.

Related UPI Stories
Topics: Wayne Weaver
Latest Headlines
Top Stories
Los Angeles Dodgers trade for Mat Latos, Mike Morse from Miami Marlins
Mexico ousts national team coach
Baseball Hall of Fame to change voting eligibility
Andres Blanco's double keeps Philadelphia Phillies rolling
Aggressive Miami Marlins down Washington Nationals