Jaguars Owner Wayne Weaver Selling Minority Share to Fred Smith, According To Report

According to a report by 1010XL, a local Jacksonville sports radio station, Fred Smith is buying a minority stake in the Jacksonville Jaguars with the intent to take over as owner of the franchise when current owner Wayne Weaver steps down. I haven't listened to any sports radio today, so I cannot comment on this report, but the following was posted on 1010XL's Facebook page:

Breaking news! 1010 XL has learned that Wayne Weaver is selling a piece of the Jaguar franchise to Fred Smith of Fed Ex as a minority owner. When Wayne decides it's time to retire Fred would then transition into the majority owner with the agreement that the team will remain in Jacksonville. It's not official yet, but we're told it's almost a done deal.

Jaguars owner Wayne Weaver denied this rumor prior to Monday Night Football in an interview with Chris Mortensen and later denied the rumor to Florida Times-Union columnist Gene Frenette. This has been a rumor in media circles and something I've investigated myself. Fred Smith, the current CEO of FedEx, has come up multiple times in people I've talked to, but I do not have anything solid to actually confirm this report. Personally, I do feel this is the succession plan for the Jaguars, however. I have also heard that when the team is sold, Wayne Weaver will attempt to have assurances in the sale that the team would stay in Jacksonville for a specific amount of time.

Currently, Fred Smith is the part-owner of the Washington Redskins. Back in 2009, Fred Smith was hotly rumored to be in the hunt to purchase the St. Louis Rams when they were going through an ownership change.

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