Auto supplier owner buys Jacksonville Jaguars

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.

Share This Photo X