Wayne Weaver Sells Jacksonville Jaguars Football Team

Wayne Weaver, Chairman and CEO of the NFL Jacksonville Jaguars just announced at a live press conference around 12:30pm on Tuesday, November 29, 2011, the selling of the Jaguars to entrepreneur Shahid Khan.

The selling of the Jaguars comes to some surprise, more so the timing of the deal rather than the concept. It’s been publicly noted the past few years that owner Wayne Weaver has been considering selling the Jaguars NFL team, but nobody really knew when that would happen. Well, today it was announced and it seemed even Mr. Weaver was a little surprised about the timing.

Mr. Weaver mentioned if the timing was right, with the right owner that is passionate about football and keeping the Jaguars in the Jacksonville community, he would sell and he found that person, Shahid Khan.

Not much is known yet about the new Owner of the Jacksonville Jaguars, other than he is the owner of the automobile parts manufacturing company Flex-N-Gate Corp, which reportedly did $2 billion in sales in 2010. Mr. Khan was born in Pakistan and received an Industrial Engineering Degree from the University of Illinois. It has also been noted the Shahid Khan was looking to purchase the St. Louis Rams in early 2010, but with financial taxing concerns the deal fell through.

This big news comes hours after the firing of Head Football Coach Jack Del Rio of the Jacksonville Jaguars, and a 3-year contract extension for the General Manager. Much more news on all 3 of these stories I’m sure will be making way over the next several days.