Jaguars owner Wayne Weaver announced the team has been sold to Shahid Khan.
Here is his biography:
Khan came to the United States from his native Pakistan in 1967 and attended the Univeristy of Illinois at Urbana-Champaign. In 1970, he began working for Flex-N-Gate Corporation. He graduated from the University of Illinois in 1971 with a Bachelor of Science in Industrial Engineering.
Khan began a new business designing and manufacturing innovative lightweight, continuous metal bumper systems, with no seams to corrode or rust. Nearly two-thirds of all North American pick-up trucks and sport utilities have bumper systems based on Khan's designs.
In 1980, Khan purchased Flex-N-Gate. It now employs more than 10,000 associates at 48 manufacturing plants with annual sales exceeding $3 billion.
Khan has been a major donor to the University of Illinois. In September, he and his wife, Ann Carlson Khan, made a $10 million donation to the Urbana-Champaign campus.
In February of last year, Khan tried to buy the Rams, but he lost out when then-Rams minority owner Stan Kroenke excercised an option to become the full owner.
Khan will be the first minority to be a controlling owner of an NFL team.
During a press conference in Jacksonville on Tuesday, current Jaguars owner Wayne Weaver said that Khan will purchase a house in Jacksonville and intends to keep the team in the city. Khan is expected to attend the Week 13 Chargers-Jaguars game on Monday night, and will be introduced to the members of the organization and the media at that time.