By now most people have heard that the Jacksonville Jaguars have been sold to Shahid Khan, but few know that Khan is the owner of Flex-N-Gate Corp. - a major automotive supplier operating out of Urbana, Illinois.
Official figures have yet to be announced, but it is believed Khan paid between $750 million and $800 million for the ownership rights to the team. Forbes estimates the franchise is worth $725 million - ranking it last in the NFL.
Khan, 61, has long-dreamed of owning an NFL team and even attempted to buy the St. Louis Rams last year.
"Owning a team in the National Football League has long been my personal and professional goal," said Khan, a Pakistani-native who moved to the United States at the age of 16. "Becoming the owner of the Jacksonville Jaguars would be a dream come true for me and my family."
Kahn has publicly committed to keeping the Jaguars in Jacksonville, but it is widely believed he will eventually move the team. Recent reports have indicated that the St. Louis Rams could relocate to Los Angeles, allowing Kahn to move the Jaguars to St. Louis. St. Louis is about 175 miles southwest of Flex-N-Gate's Urbana headquarters.
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