Jaguars ownership officially transferred to Khan

The Jacksonville Jaguars announced that the team's ownership officially changed hands today from Wayne Weaver to Shahid Khan.

Khan signed an agreement on Nov. 29 to purchase controlling interest from Weaver, who had owned the franchise since it first began play as an expansion team in 1995.

In a release, both Khan and Weaver acknowledged the transaction being finalized.

"I want to thank Wayne and Delores for their support and confidence throughout this process,” Khan said. “Over the past month I’ve experienced first-hand the passion that Jaguars fans have for this team. Let me assure them that I will do everything possible to build a consistent winner on the field, and a model franchise off the field, that will make the people of Jacksonville very proud.”

“Parting with the Jaguars is not easy but we have great confidence in Shad and his family that the franchise is in good hands,” Weaver said. “It will be very different for us watching from a distance, but we look forward to many great days cheering for the Jaguars. Once again we want to say thank you to the fans for making the past 18 years so rewarding and memorable.”

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Terry McCormick covers the Titans for TitanInsider.com

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