Mohamed Al Fayed Sells Fulham Football Club To Shahid Khan
Mon 15th Jul 2013 | Clubs Ownership
Mohamed Al Fayed has sold Fulham Football Club to Shahid Khan, the CEO of Flex-N-Gate Group and owner of the Jacksonville Jaguars of the National Football League in the United States.
The transaction, been approved by the Barclays Premier League, makes Khan the sixth American owner in the league assuming 100 per cent ownership of the club in a deal reportedly worth up to £200m.
“My time of serving as the custodian of Fulham Football Club would one day come to an end, and I feel that time has now arrived,” Al Fayed said in a statement released by the club.
“The time is right because I have found a very good man in Shahid Khan to accept the responsibility and privilege that I have enjoyed at Fulham since 1997. Fulham will be in very good hands with Shahid, whose success in business and passion for sport is very evident.
“I ask everyone who loves Fulham and our Craven Cottage home to welcome Shahid as he begins his journey as the next guardian of Fulham Football Club.”
Khan, who at the age of 16, left his native Pakistan for the United States to study engineering at the University of Illinois at Urbana-Champaign added: “I was recently very fortunate to have been introduced to Mohamed Al Fayed, a man I respect and admire immensely for what he has accomplished in his life and – above all – what he has given others.
“Today, he is giving me the privilege and responsibility of serving as the next custodian of Fulham Football Club. I am extremely honoured to accept and want to thank him, on behalf of everyone who loves Fulham, for 16 years of exceptional service to the club. Mr Al Fayed rescued the club in its hour of need and has led it to a sustained place within the Premier League.
“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. 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 programs as fundamentally important elements of Fulham’s future.”
Posted by: Aaron Gourley
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