SOLD: St. Louis Rams have a new owner

The 1-15 St. Louis Rams are headed for new ownership.

Owners Chip Rosenbloom and Lucia Rodriguez “have entered into a signed agreement to sell the team to Shahid Khan,” according to Bernie Miklasz of the St. Louis Post-Dispatch.

NFL owners must approve the sale.

Khan is the 55-year-old president of Flex-N-Gate Corp., which is an auto-parts manufacturer located in Urbana, Illinois. The company reportedly has $2 billion in annual revenue.

As of now, the plan calls for Khan to acquire a 60% ownership stake in the St. Louis Rams, with Stan Kroenke owning the remaining 40%.

The deal is expected to be finalized sometime next month.

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