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Shahid Khan officially Jags' owner

Updated: January 4, 2012, 3:50 PM ET
Associated Press

JACKSONVILLE, Fla. -- The Jacksonville Jaguars have officially transferred ownership from Wayne Weaver to Shahid Khan.

The transfer took place Wednesday afternoon, ushering in a new era for the small-market franchise that has been in existence since 1993.

Weaver agreed to sell the franchise to Khan on Nov. 29 for $770 million. The deal included a $660 million sale price and $110 million in debt.

Weaver says he has "great confidence in Shad and his family (and) that the ...

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