Jacksonville Jaguars SOLD!!

[Racerbvd]

This could be interesting

Weaver: Jaguars to be sold, remain in Jax
Pakistani-American entrepreneur to buy 100 percent of team

Published On: Nov 29 2011 11:07:06 AM EST Updated On: Nov 29 2011 06:40:45 PM EST
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JACKSONVILLE, Fla. -
Jaguars majority owner Wayne Weaver announced Tuesday he is selling the team to businessman Shahid Khan.

Jags blackout looming
Weaver said Khan is committed to keeping the team in Jacksonville, though there was no written agreement.

"This is a team that's going to be in Jacksonville many years into the future," Weaver said. "There's not a doubt in my mind that this team is going to be in Jacksonville."

Khan, a entrepreneur who immigrated from Pakistan, attempted to purchase the St. Louis Rams last year, but lost out to Stan Kroenke.

Weaver, speaking for himself and his partners, said Khan has "the same passion about football in Jacksonville as we do."

"If the proposed transaction is approved in the weeks ahead, I will responsibly and enthusiastically serve the NFL, the Jacksonville Jaguars and their great fans, and I will be fully committed to delivering Jacksonville its first Super Bowl championship," Khan added. "This is a franchise with tons of potential, playing in a community that is passionate about football and loves to win. I can't think of a better place to be."

Weaver, the majority owner of the Jaguars for the past 18 years, said Khan will take over 100 percent of the team effective Jan. 4, when the deal would be finalized. The sale will be presented to the NFL owners' finance committee Dec. 6. The 32 NFL owners would vote Dec. 14. Forbes reported the sale value was $760 million.

Weaver said he was very selective in determining whom he'd sell the team to.

"I've had calls from California that I just refused to take," Weaver said. "It was wasting their time and my time."

Khan, 59, is a businessman from Illinois and owner of the automobile parts manufacturer Flex-N-Gate Corp.

He was born in Pakistan and moved to the U.S. when he was 16. He graduated from the University of Illinois at Urbana-Champaign in 1971.

Khan became the engineering director for Flex-N-Gate when he graduated, then in 1978, he started Bumper Works, which designed and manufactured car bumpers. Two years later, Khan bought his former employer and brought the two companies together.

"Shahid Khan is a great American success story and he will be an outstanding owner for this franchise and for this community," Weaver said in making the announcement. "I am excited for the team and for our great fans because Shahid will bring passion and commitment to the job. He is committed to restoring a winning tradition here in Jacksonville."

Weaver, 77, said he and his wife, Delores, had discussed selling the team for a while.

"That exit strategy could come sooner or later," he said.

Weaver said Khan told him earlier this year that he really wanted to buy a team and wanted it to be the Jaguars.

Weaver said he'll remain in Jacksonville. He said he'll offer any help to Khan if needed, but he won't interfere with team operations.

"I'll miss it because it's been a big part of our lives for the past 18 years. It's bitter sweet," an emotional Weaver said.

This doesn't look good..

But he also contributed $100,000 to the Chicago camaign of Democrat Rahm Emanuel, who was the chief of staff for President Barack Obama.

Read more at Jacksonville.com: Who is Shahid Khan? | jacksonville.com

This doesn't help either..

He and his wife are involved in some on-going financial legal battles. . . . Khan and his wife, Ann, filed law suits last summer in Champaign County Circuit Court against several financial advisors. The couple claims they lost money when misled on tax-advantaged investment strategies. According to court records, the IRS investigated the Khan’s tax returns between 1999 and 2003. They found potentially abusive [DS: translation, "illegal"] tax shelters involving $250 million.


Khan says he and his wife, Ann, quickly paid back the IRS $68 million, but he also appealed the payment. The Khan’s battle continues this week with his former financial advisors. They are being sued for negligence and professional malpractice for suggesting the couple invest in “distressed debt”, a strategy to lower taxes by using weak foreign currency. The next court date is scheduled for March 23.

[URY914]

Now you will be able to buy game tickets any corner convenient store.

[Racerbvd]

Winn Dixie gives tickets away, at least they have in the past..

[URY914]

The coach got canned too.

[KFC911]

Won't be long before the only pro team playing in Jax will be the Gators

[MRM]

There really isn't any danger of the Jags being moved. The dirty secret of pro football is that the country is oversaturated with NFL teams. There are three or four teams that would love to move somewhere, anywhere, and just don't have anyplace better to go. L.A. has been dying to get a pro team back there and no one will take even the ransom they're willing to pay to get someone to relocate there because it won't pay off in the long run.

Every market that is well suited for an NFL team has one, with a few (like the Jags) left over. After so many years of teams moving to take offers from the highest bidder, there are no more places for them to move. The Vikings have had three or four owners over the last 10-15 years, all of whom would have loved to move the team and would have in a minute if they could ahve made a penny more than they did in Minnesota. In the end, after shopping the team and coming up empty, they all sold to another out of town investor, who them embarked on the same fruitless quest. The Vikings will eventually be able to extort enough money out of the state to build a new stadium in Minnesota, but with so many marginal franchises around, there's no real danger that any current NFL team is going to go anywhere any time soon.

Besides, the Gators need someone to base their pay scale on.

[KFC911]

Originally Posted by MRM

Besides, the Gators need someone to base their pay scale on.

...I hope you're right, 'cause I've got a few close friends who LUV their football (SEC and Jags season ticket holders), but you can't even "give" tix away anymore from what I hear. Now if'n the Jags had drafted Tebow (Gator country for sure), the stands would probably be packed! Small TV market, SEC fanatics dominate, so time will tell. Even if I still live there, I probably wouldn't go to Jags games...I'd rather be sailing or fishin' or something...