Pakistani-American buys football club

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Pakistani American businessman Shahid Khan has bought football club Jacksonville Jaguars. According to reports received here, owner Wayne Weaver agreed to sell the Jaguars to Shahid, an owner of auto parts maker Flex-N-Gate Group. Financial terms weren’t disclosed, but a person familiar with the deal put the sale price at about $750 million. At a press conference, Weaver said that the sale was “not about money, but finding the right partner to continue the legacy we’ve started here.” Weaver said that Shahid Khan, who is based in Illinois, will buy a home in Jacksonville, and that he believes the new owner is serious about keeping the team in northern Florida. “I will always be grateful for Wayne’s trust and confidence in my commitment to the Jaguars, the NFL and the people of the Jacksonville community,” said Mr. Khan.

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