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Wayne Weaver Confirms Sale Of Jacksonville Jaguars To Shahid Khan

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Wayne Weaver, now former owner of the Jacksonville Jaguars, confirmed at a Tuesday press conference that he is in the process of selling the team to businessman Shahid Khan, who is familiar to the NFL because he tried to buy the St. Louis Rams last year.

Weaver had a number of significant announcements to make on Tuesday, including two of his final acts as team owner -- firing Jack Del Rio and extending the contract of GM Gene Smith.

He also confirmed that he was selling the team to Illinois businessman Shahid Khan. The big news, in my estimation, is that Weaver said there was nothing in writing with Khan about keeping the team in Jacksonville when the deal was done. That said he reiterated he had trust that Khan wouldn't move the team. He said, "We're a Jacksonville franchise" when talking about the future of the franchise.

The obvious speculation that will start is the possibility of a move to Los Angeles. We haven't heard from Khan on this topic -- he's expected to speak this week -- but Weaver made it clear that he expected the team to remain in Jacksonville.

A few other highlights from the press conference about the sale of the team:

  • Weaver described Khan as a real "American story" in gaining his wealth.
  • The timeline for turning over the team: Dec. 6 finance committee meeting will likely endorse it; Dec. 14 the owners will vote; sale would close in early January.
  • Statement from Khan: "Owning a team in the National Football League has long been my personal and professional goal."

Check out SB Nation's Big Cat Country for the latest on the Jaguars new ownership.