Shahid Khan Approved As New Jaguars Owner

The NFL owners committee has unanimously approved Shahid Khan to be the new Jacksonville Jaguars owner. With the approval passing, this means that on January 4th, 2012 the transaction will become official and Shahid Khan will take over ownership from current owner, Wayne Weaver.

Khan came to a deal with Weaver a few weeks ago to become the new owner. Last week, Khan was approved by the NFL's finance committee, and he has now been approved by the ownership group to be accepted into the fraternity. With the approval, Khan will become the first minority owner in the NFL history. Up until this point, Khan has been silent to the media, opting to let the process complete before he spoke with the media.

Shahid Khan will hold a press conference in Jacksonville on Friday at 3:00 pm ET, that will be live streamed on Jaguars.com.

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