Almost 18 years to the day after Jacksonville was awarded the 30th franchise of the National Football League, principal owner Wayne Weaver announced Tuesday he would sell the Jacksonville Jaguars to an Illinois businessman.
An emotional Weaver announced at a noon news conference at EverBank Field that he has agreed to sell the team to Shahid Khan, owner and CEO of Urbana, Ill.-based Flex-N-Gate Corp.
While Weaver wouldn’t comment about the price, Forbes.com reported Khan was buying the team for $760 million and using $350 million in debt to finance the deal.
Before the conference, news broke that Weaver fired head coach Jack Del Rio early Tuesday and he announced that and other personnel moves at noon.
However, the news of the sale dominated the conference.
Weaver said Tuesday that he and Khan signed an agreement earlier in the day for the sale. The deal will be reviewed by the eight-person NFL Finance Committee for approval before being voted on by all the NFL owners.
If approved, the transaction will be completed Jan. 4.
Weaver, 76, said in the news conference that the main motivation in his exit strategy was not money but was to “find someone that has the same passion for the NFL, same passion for football in Jacksonville as we do.”
“I found that person. I’ve known that person a long time. I first met him about five years ago,” he said.
Khan did not attend the news conference. Weaver said Khan is expected to be in town for the Monday night Jaguars game against the San Diego Chargers and is expected to meet with media then.
“I’ve been very candid with the press that, at some point, we had to have an exit strategy and that exit strategy could come sooner or later,” Weaver said.
“It’s a little bittersweet that it came as soon as it did.”
Weaver said Khan, a Pakistani immigrant and naturalized U.S. citizen who worked his way into a becoming successful entrepreneur, is “absolutely the American story.”
He said Khan “has a real passion for Jacksonville” and trusts that he will keep the team in the city, although there is no language in the agreement that precludes such a move.
Weaver said he relied on his relationship with Khan and his ability to determine the integrity of a person.
“It’s a commitment that I had to be comfortable with, that his plan was to keep the team in Jacksonville. There is not a doubt in my mind that this team will be in Jacksonville,” Weaver said.
“It’s hard to put something in writing saying that you have to do something. You have to trust an individual’s integrity and I have no doubt that Shahid is going to do what he plans to do. You will hear from him directly and you’ll feel his passion,” he said.
“All I ask is that the community give him the same support that they have given the Weavers and our Jaguar partners,” said Weaver.
In a statement provided by the team, Khan said:
“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.
“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,” said Khan, 61.
“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,” he said.
“If the proposed transaction is approved in the weeks ahead, I will responsibly and enthusiastically serve the NFL, the Jacksonville Jaguars and their great fans, and I will be fully committed to delivering Jacksonville its first Super Bowl championship,” he said.
“This is a franchise with tons of potential, playing in a community that is passionate about football and loves to win. I can’t think of a better place to be.”
Personnel moves
Weaver said the Jaguars’ management team would remain in place. General Manager Gene Smith signed a three-year extension Monday night, which was also announced Tuesday. Defensive coordinator Mel Tucker was named interim head coach.
Del Rio was dismissed Tuesday morning after an eight-plus year stint that concluded with a 69-73 overall record and 1-2 playoff record.
“I told Jack that I appreciated the nine years that he served with the team but I said that we deserved better,” Weaver said.
“We’ve been very average over the last couple years,” he said.
Weaver said the timing of Del Rio’s firing and the sale announcement was “awkward” and the two were not related.
Tucker, who Weaver called one of the bright spots of the season, will have an opportunity to be interviewed for the position full time after the season.
A full-fledged coaching search will begin and Del Rio’s dismissal will allow the search to begin now, Weaver said.
“I really feel good about the changes that we have made,” Weaver said. “I believe we are a franchise that is not far away from being competitive.”
Weaver said Khan will buy a home in Northeast Florida, but will not be as hands-on or maintain the day-to-day operations with management as much as he did.
“I’ll miss it,” he said.
Weaver said he and his wife, Delores Barr Weaver, will remain in the area.
The two have had strong philanthropic efforts in the region, including the Jacksonville Jaguars Foundation. The foundation will not be affected during the sale with the exception that Delores Weaver said she will no longer be involved.
The two will maintain their homes in Jacksonville and Wayne Weaver said he will remain “the Jaguars biggest cheerleader.”
Weaver thanked the team’s minority partners, many of whom were in attendance, and called the venture a success.
Preston Haskell, one of the team’s minority owners, echoed many of Weaver’s sentiments and called the experience “a great 18 years.”
Betty Petway, another minority partner with her husband, Tom Petway, said the move is an exciting one and, like Weaver, she would be as strong as a supporter as she’s ever been.
The Weavers are majority partners.
Weaver thanked his Jaguar partners that helped his dream of owning an NFL franchise become a reality: His wife, Delores Barr Weaver; Deron Cherry; Lawrence DuBow, who is also an alumnus of the University of Illinois; Preston Haskell; W.A. “Sandy” McArthur; Thomas Petway; David Seldin; and his brother, Ron Weaver.
“They’ve been great partners, great mentors and counsel over the last 18 years. I don’t know how many of you have been involved in partnerships, but partnerships at best are tough. But I can tell you we’ve got a great one,” said Weaver.
“It’s been a great 18 years, but it’s time to move on to another part of life,” said Ron Weaver.
“It’s been exciting. The team has been great for the community,” said DuBow. “Timing is everything, and this was the right time and we found the right person.”
Mayor’s reaction
Mayor Alvin Brown has long said sports play an important role in his administration and reiterated that Tuesday.
“The Jaguars are a crucial part of our city’s identity,” Brown said.
Brown said at an early afternoon news conference that he had already attempted to speak to Khan but was unable to reach him.
When asked what he would say, Brown said he would welcome Khan to “the greatest city on planet Earth” and attempt to convince him to move Downtown.
Asked about the team’s seemingly consistent rumors of moving from Jacksonville and how that could affect the stadium lease between the team and City, Brown said “when we cross that bridge, we’ll deal with it.”
“The team is going to be here in Jacksonville, the team will remain here,” Brown said. “It’s one of my top priorities as a sports town.”
Ticket sales
Brown said he thinks the community will react favorably to the sale and will turn out in support by buying tickets.
Asked about the effect the news has on ticket sales, Weaver said he hopes the community will respond in a positive way, though “there are a lot of tickets to sell.”
Blackouts remain possible for the remaining three Jaguars’ home games. Declining ticket sales in the face of a disappointing 3-8 season have diminished fan enthusiasm.
Supporters believe Tuesday’s news could help sagging sales for the remainder of the year and beyond.
That change might be seen in sales for the Monday home game. The team has flirted with blackouts for a number of years in the last decade. The low point came in 2009, when all but one home game, the finale against the Colts on Thursday Night Football, was blacked out. Team Teal was established to help sell out that game and future games.
There were no games blacked out in the 2010 season and there has yet to be a game blacked out this year.
Weaver said Tuesday he hoped the community would continue its support for the new ownership.
“We’re a Jacksonville franchise and we plan to stay a Jacksonville franchise,” Weaver said Tuesday.
The sale still has to be approved by Commissioner Roger Goodell, NFL Finance Committee and league owners. Weaver said he discussed the possibility of a sale with Goodell before he would begin negotiating the sale.
“I said I wouldn’t sign an agreement until I had Commissioner Goodell’s approval that he was going to endorse this,” said Weaver.
Throughout Jacksonville, the Weavers and the Jaguars are recognized for their charitable giving and community support.
Team outlook
Some of the players found out about the moves as they arrived at the facility Tuesday.
“I respect the heck out of that guy,” said Montell Owens, Jaguars running back and special teams leader said of Del Rio. “It’s a little bit of a shocker. We are all still digesting everything that has happened.”
Linebacker Paul Posluszny, a recent addition to the Jaguars’ roster from Buffalo, was confident in the future of the franchise.
“It’s a tough situation for everyone involved, but I experienced it before in Buffalo when they replaced Coach (Dick) Jauron. You just have to continue to fight hard,” said Posluszny, who signed a six-year contract with the Jaguars during the off-season. “I just bought a house here and I intend on playing out my contract in Jacksonville.”
When both Owens and Posluszny take the field next it will be under the guidance of Tucker, who was promoted from defensive coordinator Tuesday.
“He has been one of the bright spots of our football team this year, taking charge of the defense and calling the defensive plays. I thought Mel earned the opportunity to see (the season) through,” said Weaver.
“I was very explicit with Mel that this is an interim position. At the end of the season we are going to conduct a very extensive coach search. I did assure Mel he would have an opportunity to be interviewed for the job.”
Tucker plans to continue to call the plays for the defense.
“My expertise is in defense,” said Tucker. “I know good offense when I see it. I’ve always believe that you allow people to do their jobs and empower people to go to work and feel motivated to do what they do best.”
The third personnel move made by the Jaguars was to extend Smith’s contract as general manager.
“We have a GM in place that will continue to do the good work that they have done over the last few years and continue to build our roster,” said Weaver. “I feel good about the changes that we’ve made and I think we will see some of the fruits of that this year. Maybe we’ll see a spark.”
Smith looked forward to working with Tucker to find that spark.
“This is a very unique day. One that I can’t say I anticipated, but that’s life. You have to adapt to it and make the very best of it. Mel and I will,” said Smith. “I feel very confident in what we are doing and certainly in Mel Tucker. I will certainly give him all the support that I can.”
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