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Billionaire Shahid Khan Buys English Soccer Team

Shahid Khan

Billionaire businessman Shahid Khan delivers the commencement address during Sunday's graduation ceremony at the University of Illinois at Urbana-Champaign. (University of Illinois)

University of Illinois alumnus and entrepreneur Shahid Khan has bought the English Premier League club Fulham.

Khan owns the Urbana-based auto parts manufacturer, Flex-N-Gate. In December 2011, Khan bought the National Football League's Jacksonville Jaguars.

"I do not view myself so much as the owner of Fulham, but a custodian of the club on behalf of its fans," Khan said in a statement. "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.”

Details of the sale comes with Khan's Jaguars preparing to play NFL regular-season games in London.

The Jaguars have a deal to play one home game in London for four consecutive seasons starting in October at Wembley Stadium against the San Francisco 49ers.

Khan becomes the sixth American owner of a Premier League team. Al Fayed had owned Fulham since 1997.

Categories: Business, Sports