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UPDATE: Urbana’s Shahid Khan reportedly buying Jacksonville Jaguars

Shahid Khan, who earlier this year lost out in an attempt to buy the St. Louis Rams, is reportedly buying the Jacksonville Jaguars instead. Apparently, he would be the first non-white owner of an NFL franchise, which is kind of crazy, though not that surprising.

More information here.

UPDATE (12/8/11, 5 p.m.): Khan’s bid was approved unanimously by the league’s finance committee.

Plus there’s this.

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