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NFL team owner completes Fulham purchase

Sky Sports announces a deal has been completed

By | 12th July 2013
dimitar berbatov

Mohamed Al Fayed’s 16-year reign as Fulham’s owner has come to an end after current NFL Jacksonville Jaguars owner Shahid Khan agreed to a deal to purchase the Premier League side Friday, according to Sky Sports.

The fee for the purchase is believed to be around £150 million, a small percentage of Kahn’s worth, according to The Sun.

Al Fayed’s sale of the club comes as a surprise to many, after he and Khan conducted extensive, but secret talks. Al Fayed has confirmed that he will speak with the media at 1pm on Saturday.

The news, confirmed by Fulham’s website, comes just days after longtime keeper Mark Schwarzer signed with Chelsea, signaling a change for the English club. wrote: “Mohamed Al Fayed has sold Fulham Football Club to Shahid Khan, the CEO of Flex-N-Gate Group and owner of the Jacksonville Jaguars of the National Football League in the United States.  The transaction has been approved by the Barclays Premier League. Khan assumes 100 per cent ownership of the club, debt-free, as of today.”

Kahn, who’s estimated worth stands at £1.65 billion, is a Pakistani-born American who made his fortune as a car parts manufacturer, and could significantly boost the club’s spending power with Khan thought to be about twice as wealthy as Al Fayed.

“I am extremely honored to accept and want to thank him, on behalf of everyone who loves Fulham, for 16 years of exceptional service to the club. Mr Al Fayed rescued the club in its hour of need and has led it to a sustained place within the Premier League,” said Kahn. “Fulham is the perfect club at the perfect time for me. My priority is to ensure the club and Craven Cottage each have a viable and sustainable Premier League future that fans of present and future generations can be proud of.

The 62-year-old Khan purchased the NFL’s Jacksonville Jaguars franchise last year in November, in a $760 million deal.  Khan’s love for the American sport pushed him to buy the NFL franchise, and was reportedly a “dream” of his according to the New York Times.

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