Jacksonville Jaguars Sold, Will Likely Stay in Florida

The Jacksonville Jaguars have been sold but it doesn't look like the deal will end Los Angeles' 17-year wait for an NFL team to replace the Rams and the Raiders. Wayne Weaver, the longtime owner of the struggling franchise, has long sought an "exit strategy" that would keep the team in Jacksonville—and he appears to have found it with Shahid Khan, a Pakistani-born Illinois businessman who is reportedly paying $760 million for the team, the AP reports.

Khan, owner of auto parts maker Flex-N-Gate, "said he really wanted to buy a team and do it here in Jacksonville,” Weaver told reporters. “This gentleman is absolutely the American story. He’s passionate about football and he’s going to buy a home here in Jacksonville." Weaver said he refused to take calls from potential buyers in California. The Jaguars are 3-8 for the season and Jack Del Rio, coach since 2003, was fired yesterday. (More Jack Del Rio stories.)