Wayne Weaver has confirmed he is in the process of selling the Jacksonville Jaguars franchise to Illinois businessman Shahid Khan and Forbes reports the deal is for $760 million. Forbes last valued the Jaguars franchise at $725 millionbut the NFL and ESPN have since re-done their TV deal worth 73 percent more.
Prior to that deal with ESPN, the St. Louis Rams, who were the last franchise to sell, went to Stan Kroenke for $750 million. The Jaguars are near or at the bottom in terms of franchise value.
Khan now takes over an organization that has had trouble selling tickets and continues to be mentioned among the teams that could move to Los Angeles. Weaver said there is no written contract with Khan to keep the team in Jacksonville but that he has his trust that he will.
On Dec. 6, the NFL's finance committee will review the deal and then on Dec. 14 the teams will vote on it. If those go through without a hitch, the sale should finalize in early January.
Check out SB Nation's Big Cat Country for more on the Jags.