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Jacksonville Jaguars owner Shad Khan confirmed on Friday that he has taken over ownership of English Premier League club Fulham F.C. for a reported amount of between £150-200 million ($225 to $300 million).
Khan released a statement on Friday afternoon about his takeover and his vision going forward for the team:
"I was recently very fortunate to have been introduced to Mohamed Al Fayed, a man I respect and admire immensely for what he has accomplished in his life and - above all - what he has given others. Today, he is giving me the privilege and responsibility of serving as the next custodian of Fulham Football Club. I am extremely honoured 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.
"Fulham is the perfect club at the perfect time for me. I want to be clear, I do not view myself so much as the owner of Fulham, but a custodian of the club on behalf of its fans. 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. We will manage the club's financial and operational affairs with prudence and care, with youth development and community programs as fundamentally important elements of Fulham's future."
Fulham F.C., located in southwest London, was founded in 1879 and has been a mid-table team in the English Premier League for the past decade. Mohamed Al-Fayed, who purchased the club in 1997 for just £6.25 million, quickly helped the club climb from the lower tiers to the Premier League in 2001 where they have remained competitive ever since.
Fulham currently plays it's matches in Craven Cottage, a 25,000 seat stadium.