A few years ago, the U.S. auto industry was in serious trouble. Automakers received most of the press, but suppliers appeared to be in even more dire straits. Fast-forward to 2011 and the Detroit Three are in better shape, and suppliers apparently aren't doing so badly either.
Automotive News reports that businessman Shahid Khan, who owns Flex-N-Gate, has purchased the Jacksonville Jaguars. There is no word at this time how much Khan paid for the franchise, but the league estimates that the team is worth $725 million. That's a lot of coin for any entrepreneur, but given the strict standards that the NFL uses to approve ownership, Khan apparently has the cash.

Flex-N-Gate builds stamped parts like fascias, bumpers and running boards, and it employs 12,000 people at 57 facilities throughout North America. AN reports that the automaker sold $3 billion worth of parts in 2010 alone, making it number 54 on the Automotive News list of the top 100 global parts suppliers.


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    • 1 Second Ago
  • 24 Comments
      Elmo
      • 3 Years Ago
      Seems like the Jags are trying to revise this whole team. Jack Del Rio is gone, and now they sell the team. Hopefully that doesn't mean that this new owner will be moving the team. I love living in a state that has the most NFL teams in one state.
        • 3 Years Ago
        @Elmo
        [blocked]
        Ben Wright
        • 3 Years Ago
        @Elmo
        Seeing as you're from Florida, I'm not surprised you can't count. California also has three NFL teams.
          LUSTSTANG S-197
          • 3 Years Ago
          @Ben Wright
          Wow!! 66 downvotes!! That must be a record. I don't see why so many disagree that there are in fact 3 teams in California. For those who don't know, California has the San Diego Chargers, Oakland Raiders, and San Francisco 49ers.
          Elmo
          • 3 Years Ago
          @Ben Wright
          Ok, then tied for the most. No reason for the personal insult, though. I'm kind of confused on your whole "Floridians can't count" thing though. Florida really isn't a state with a majority of rednecks. I guess I should expect that from a Californian who doesn't really know anything outside his own state.
          LUSTSTANG S-197
          • 3 Years Ago
          @Ben Wright
          Elmo, I grew up in Florida!! Did you read my entire post? It's not that Florida "does not count", it's that most of the people there, including myself, have ties to different areas. It's no insult; it's a fact. I grew up relatively close to the Miami market, and despite having a team so close by, most people I knew pulled for the teams their parents supported, which was teams such as the Jets, Giants, Eagles, etc. Like California, Florida is a fickle market. The same could be said of all western and southern markets where there area a great deal of transplants.
      Alonzo Alex Clark
      • 3 Years Ago
      well the jag arn't a bad team gabbared (i think thats how you spell it) gets alil better .. damn is that y Del Rio is gone oh well .... ( jacka** moment) i guess they could always buy a super bowl like new england oooooo damn my bad i wasnt suppose to say that GO STEELERS
        LUSTSTANG S-197
        • 3 Years Ago
        @Alonzo Alex Clark
        There's no such thing as "buying championships" in any sport, not even baseball. You still have to spend your resources wisely. Anyway, that is even farther from the case in the NFL because there is a "hard salary cap", whereby teams are limited in how much they can spend. How do you think your Steelers have remained SB contenders all of these years? If it were like the MLB where the richer teams from bigger markets like New York, Dallas, Chicago, etc. were allowed to really stretch their legs, staying competitive would be much more of an uphill battle for small market teams like the Steelers, Packers, and Colts.
          LUSTSTANG S-197
          • 3 Years Ago
          @LUSTSTANG S-197
          Oh I am not arguing that the Jags are a good organization. Their record of the last record speaks for itself. My point was that it's not how much you spend, but you spend. That's more of an issue in baseball than football though. Owners who see it purely as a business often do not succeed as owners and alienate fans in the process. The ideal owner is not only a smart business man, but a fan as well. Mike Illitch of the Detroit Redwings is a good example. Mark Cuban is another.
      Josesito
      • 3 Years Ago
      Los Angeles Jaguars?
        LUSTSTANG S-197
        • 3 Years Ago
        @Josesito
        Let's hope not!! From the people I have talked to, it appears they did not have much appreciation for the Rams or Raiders. I would rather see small market, Jacksonville keep their team.
      Mike
      • 3 Years Ago
      He bought a lemon.
      Jonas
      • 3 Years Ago
      Love ya Autoblog, but that is a bad effort on that Jags jpeg, or is that representative of the unkept, lossy, low quality Jacksonville Jaguars? Nevermind... Well done :)
      • 3 Years Ago
      [blocked]
      i_genghis
      • 3 Years Ago
      Reading only the headline, I thought TATA was downsizing..... weekend hangovers are no fun...
      EvoVIII
      • 3 Years Ago
      I see Autoblog's late on this one...
      • 3 Years Ago
      [blocked]
      Ferd
      • 3 Years Ago
      $725 million? Yes, but do his factory workers have health insurabce and pensions?
      • 3 Years Ago
      [blocked]
      donnieorama
      • 3 Years Ago
      Get ready to be moved, Jags.
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