Who is Shahid Khan, and why is he trending in the news these days?

Khan will become the new owner of the NFL's Jacksonville Jaguars.

Khan, born in 1950, is a Chicago-area businessman who owns the automobile parts manufacturer Flex-N-Gate Corp. Born in Pakistan, Khan moved to the U.S. in high school and graduated from the University of Illinois in 1971.

He is buying the Jaguars from team majority owner Wayne Weaver. Khan will have 100 percent control of the team, according to Weaver, calling the businessman a great American success story and someone who is committed to restoring a winning tradition in Jacksonville.

Khan had tried to buy a controlling interest in the St. Louis Rams last year. That deal didn't materialize. But now, Khan says getting the opportunity to buy the small-market Jaguars is a dream come true.thle

I am honored to have recently signed an agreement with Wayne Weaver and his partners to purchase the Jacksonville Jaguars. I have known Wayne for some time and have long admired his spirit, which nearly 20 years ago -- against all odds -- helped make the Jaguars and the National Football League a reality for Jacksonville and North Florida, Khan said in a statement. Wayne's legacy will be lasting, and I will always be grateful for Wayne's trust and confidence in my commitment to the Jaguars, the NFL and the people of the Jacksonville community.

Owning a team in the National Football League has long been my personal and professional goal. Becoming the owner of the Jacksonville Jaguars would be a dream come true for me and my family but, above all, would be a privilege. To that end, I would like to thank Commissioner Roger Goodell and members of his team for their counsel and guidance throughout my efforts over the past several years.

Khan started his first company with a small business loan and a small sum of personal savings. He worked at Flex-N-Gate as a college student, and less than a decade later he purchased the company, merging his initial start-up with it. His company, which employs more than 10,000, makes truck bumpers and rear truck gates for major automotive manufacturers, including the Big Three. His wife, Ann, is also a graduate from Illinois.