Shahid Khan, also acknowledged as Shad Khan, was born July 18, 1950, and is a Pakistani-American billionaire and businessman. Shahid owns the Jacksonville Jaguars of the National Football League (NFL) and the English Premier League team known as Fulham F.C. Mr. Khan is also the owner Flex-N-Gate, a company based in Urbana, Illinois ,and specializes in manufacturing automobile parts.
According to Forbes, Khan’s net worth was estimated to be over $6.5 billion in 2016, making him the 84th in the Forbes 400 list of richest Americans and is overall the 360th wealthiest person in the world. Khan is also the richest person of Pakistani origin.
Born in Lahore, Pakistan, Khad was raised by a middle-class family who was involved in the construction industry. Khan’s mother was a math teacher. At the age of 16, young Shadid moved to the U.S to further his education at University of Illinois at Urbana–Champaign. He stayed in a $2/night room at the University Y-YMCA and his first job was at a restaurant washing dishes for $1.2 an hour. Khan joined the Beta Theta Pi fraternity at the university he attended. In 1971, Shadid graduated from the UIUC College of Engineering with a BSc in Mechanical Engineering. Shortly after graduating, he was awarded the Mechanical Science and Engineering Distinguished Alumni Award in 1999.
In February 2010, Khan made an attempt to purchase a National Football League(NFL) team upon agreeing to acquire 60% of the St. Louis Rams from Chip Rosenbloom and Lucia Rodriguez, subject to approval by other NFL owners, but the minority , Stan Kroenke, the minority shareholder of the Rams , eventually exercised a clause in his ownership agreement to match any proposed offer.
On November 29, 2011, Khan managed to purchase the Jacksonville Jaguars from Wayne Weaver along with his ownership group subject to NFL approval. Although the terms of the deal were not immediately disclosed, however, an agreement was made as both parties verbally agreed to make the exchange. It was on January 4, 2012, that the deal was sale was finalized. The purchase price was estimated to be $760 million. On December 2014, the owners unanimously approved the purchase of the team due to reasons untold.
Shadid Khan is a board member of the NFL Foundation.
Purchasing an NFL team was not enough for Khan. In July 2013, he attempted to purchase an English Premier League Club known as Fulham F.C. from Mohamed Abdel Moneim Al-Fayed who was the owner at that time. It was on July 12, 2013, that the deal was finalized at a purchase price of between £150–r0 malnmvFo4f2 de official purchase price was not stated as Khan said that it was “highly confidential”.
Shadid Khan has received multiple awards from the University of Illinois, including:
- A Distinguished Alumnus Award in 1999 from the Department of Mechanical Science.
- An Alumni Award for Distinguished Service in 2006 from the College of Engineering, and (with his wife, Ann)
- The Distinguished Service Award in 2005 from the University of Illinois Alumni Association.