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Jacksonville Jaguars Sold To Shahid Khan For $760 Million, According To Report

As we all know, the Jacksonville Jaguars were sold to Illinois businessman Shahid Khan today. According to a report by Forbes, the team was purchased for $760 million. In August, the team was reported to be valued at about $725 million. In the press conference announcing the sale, Wayne Weaver said that the deal was an "all cash transaction".

Wayne Weaver has sold the Jacksonville Jaguars to Shahid Khan, a Pakistan-born entrepreneur and head of Illinois-based Flex-N-Gate Corp, for $760 million. People familiar with the matter say Kahn used $350 million of debt to finance the deal.

The deal has been approved already by commissioner Rodger Goodell and is expected to pass in the owners financial committee, 7-0. There are eight chairs on the committee, but Wayne Weaver will abstain from voting. After that, it will make it's way to the next owners meeting in December and is expected to pass.