- Dec 3, 2011
Auto supplier owner buys Jacksonville Jaguars
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.