The Jacksonville Jaguars have been sold to Shahid Khan, giving the NFL its first minority owner.
The sale from franchise founder Wayne Weaver to the Pakistani-born Khan was unanimously approved by fellow NFL team owners at a meeting Wednesday. The deal reportedly is for $760 million.
NFL commissioner Roger Goodell, Khan and Weaver were expected to speak at a news conference around 4 p.m. ET.
Khan is an Illinois businessman who tried buying the St. Louis Rams last year before landing this deal in late November. This approval was expected, as he'd already been unanimously recommended by the league's finance committee.
Weaver's club began playing in 1993. He fired coach Jack Del Rio in late November, the same day he announced his deal with Khan.