Shahid Khan approved as Jags' owner

Updated: December 14, 2011, 8:10 PM ET
Associated Press

IRVING, Texas -- Shahid Khan was 16 when he moved from Pakistan to the United States to attend the University of Illinois.

While hanging out in the basement of his fraternity house, he began his American dream of owning an NFL team.

After building a multibillion-dollar company, Khan started working toward spending some of his fortune on fulfilling that college fantasy. He reached out to owners such as Wayne Weaver of the Jacksonville Jaguars to learn the business from the inside, ...

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