By Andrew Warshaw
July 15 – Mohamed Al Fayed, one of the most colourful figures in English football, has ended his 16-year stint as boss of Fulham by selling the iconic west London club to Shahid Khan (pictured on left of Fayed), owner of NFL side Jacksonville Jaguars in the United States.
Pakistan-born Khan, a self-made billionaire who made his fortune in the automotive industry, becomes the sixth American owner of an English Premier League club.
Al Fayed, the 84-year-old former owner of Harrods, bought Fulham for a reported £30m in 1997, including the premium real estate that the ground, Craven Cottage, occupies on the banks of the River Thames. No value has been put on the sale but some estimates put the price at over £200m.
In masterminding Fulham’s rise from the third tier to the top flight of English football (including a Europa League final in 2010) where they have become an established presence, Fayed invested a further £200 million in the club. Plans to extend the ground to a 40,000 capacity stadium were turned down by the local council after local resident opposition.
Fayed sold the club debt-free, having converted loans into equity in January this year.
Khan pledged not to interfere too much too soon as he assesses the way forward for the west London club that has long stood in the shadow of neighbours Chelsea down by the River Thames but which has a strong history and tradition of its own and could now enjoy a massive injection of funds.
“Fulham is the perfect club at the perfect time for me,” said Khan, whose handlebar moustache makes him instantly recognisable. “I want to be clear, I do not view myself so much as the owner of Fulham, but a custodian of the club on behalf of its fans.
“My priority is to ensure the club and Craven Cottage each have a viable and sustainable Premier League future that fans of present and future generations can be proud of.
“We will manage the club’s financial and operational affairs with prudence and care, with youth development and community programmes as fundamentally important elements of Fulham’s future. There’s a great leadership here and I have a lot to learn. But I’ll give the team all the support it needs to be successful on the pitch. We have to respect history. I am going to listen to the fans and decide. But we have to make sure it’s sustainable.”
In a statement Al Fayed called Khan “a living embodiment of the American success story” and said they met twice before completing the deal.
“I am now delighted to be passing this great and historic club into the care and stewardship of an outstanding man who has already achieved much in his life and will, I am sure, take Fulham on to even greater things,” he said.
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