Interesting news from the world of NFL football: the owners of the St. Louis Rams have agreed to sell the team to Pakistani-American businessman Shahid Khan (who came to the US in 1967, at age 16).
Khan, 55, is the president of Flex-N-Gate Corp., an auto-parts manufacturer based in Urbana, Ill. Khan has lived in the Champaign-Urbana area for more than 40 years and is married with two adult children. Khan is a graduate of the School of Mechanical and Industrial Engineering at the University of Illinois.
According to league sources, Khan will purchase the 60 percent of the team owned by siblings [Chip] Rosenbloom and [Lucia] Rodriguez, who inherited the franchise from their late mother, Georgia Frontiere, in early 2008. NFL owners must approve the sale.
In 2009, Flex-N-Gate was listed at #229 on Forbes’ list of America’s largest private companies. According to the magazine the company had $2.14 billion dollars in revenue in 2008. Khan began working for Flex-N-Gate in 1970 while a student at Illinois and bought the company in 1980.
The deal could also mean that Rams fans can breathe a sigh of relief. Sources close to Khan told the Post-Dispatch that “Khan is willing to work with local leaders in an effort to assure the team’s long-term future in St. Louis. A source noted Khan’s deep and stable roots in central Illinois as a sign that he wants to own an NFL franchise in St. Louis — and in no other market.”
The deal won’t be finalized until March and all sales of a team must be finalized by a vote of NFL owners.
Read the rest of this post at SAJAforum.