Jaguars officially sold to Khan

Irving, TX – Illinois businessman Shahid Khan has been approved as the new owner of the Jacksonville Jaguars, it was announced Wednesday.

The sale was announced in late November, when head coach Jack Del Rio was fired. But it wasn't official until the NFL's owners voted on the issue Wednesday at a league meeting. They approved the sale by a 32-0 vote.

Khan became the first minority owner in the NFL and bought the franchise from Wayne Weaver, who had owned the team since 1993, when the Jaguars were created as an expansion franchise.

The team began play in 1995 and reached the AFC Championship Game in just its second year of existence, losing to New England. In all, the Jaguars have made six playoff appearances under Weaver's ownership and the city was the host for Super Bowl XXXIX after the 2004 season.

There has been speculation that the franchise, which has struggled to sell out games, could be moved to a larger market. But Weaver has said Khan is committed to keeping the team in Jacksonville.

Khan, an immigrant from Pakistan, owns an auto manufacturing company. He tried to purchase the St. Louis Rams last year.