Pakistan-born billionaire Shahid Khan agreed a deal to buy English Premier League club Fulham on Friday.
Khan, who owns NFL team Jacksonville Jaguars, has been in talks with Fulham owner Mohamed Al Fayed for several days and the pair have struck an agreement that will put the west London team under new ownership for the first time in 16 years.
The transaction, reported to have cost Khan around £150 million, has been approved by the Premier League and the tycoon assumes 100 per cent ownership of the club, with a press conference scheduled for 1200GMT on Saturday to officially introduce the new Cottagers supremo.
“Mr Al Fayed is giving me the privilege and responsibility of serving as the next custodian of Fulham Football Club,” Khan told the club’s website.
“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. He rescued the club in its hour of need and has led it to a sustained place within the Premier League.
“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.”
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