Saturday 13 July 2013
Fulham have announced the sale of the club to Shahid Khan, the CEO of Flex-N-Gate Group and owner of the Jacksonville Jaguars of the National Football League in the US.
"Fulham will be in very good hands with Shahid, whose success in business and passion for sport is very evident"
Mohamed Al Fayed
The transaction has been approved by the Premier League, after it satisfied the Premier League’s rules for changes of ownership, and Khan assumes 100% ownership of the club, debt-free, as of Friday. A formal announcement is scheduled at Craven Cottage, the club’s stadium, on Saturday at 1pm BST.
The takeover brings to an end 16 years of ownership under Mohamed Al Fayed, during which the club rose from the third tier of English football to the Barclays Premier League.
“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. “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.”
Khan expressed his respect for Al Fayed and his “honour” at taking over the club.
“Fulham is the perfect club at the perfect time for me"
“Fulham is the perfect club at the perfect time for me,” Khan said. “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.”