Mohamed Al Fayed sells Fulham to billionaire Shahid Khan.
Fulham owner Mohamed Al Fayed has sold the club to billionaire Shahid Khan, owner of NFL side Jacksonville Jaguars, according to BBC Sport.
The deal, which makes Khan the sixth American owner of a Premier League side, is said to be worth between £150m and £200m.
It ends 84-year-old Al Fayed’s 16-year-stint as Fulham owner. Al Fayed bought Fulham for a reported £30m in 1997, and helped the Cottagers rise from the old Second Division into the Premier League.
Khan is a 62-year-old Pakistani born American, who made his fortune with his automotive firm Flex-N-Gate. He bought NFL team Jacksonville Jaguars in December 2011. In 2012, the American football outfit won only two of their 16 matches.
“Fulham is the perfect club at the perfect time for me. I want to be clear, I do not view myself so much as the owner of Fulham, but a custodian of the club on behalf of its fans,” said Khan.
“My priority is to ensure the club and Craven Cottage each have a viable and sustainable Premier League future that fans of present and future generations can be proud of.
“We will manage the club’s financial and operational affairs with prudence and care, with youth development and community programmes as fundamentally important elements of Fulham’s future.”
Fulham fans will no doubt be hoping the move means the club will begin to make significant moves in the transfer market. Manager Martin Jol admitted he was hoping to add to squad last month, and the billionaire owner could inject some cash straight into the transfer funds to mark his arrival.
Fulham have been linked with players such as Tom Huddlestone, Sebastian Coates and Mohammed Rabiu, but new targets could emerge now Khan has completed his purchase of the club.
Eleven Premier League clubs are now under foreign ownership, which is the highest number ever in the history of top-flight English football.