Done Deal: Shahid Khan (worth £1.7 billion) buys Fulham for £200m, Al Fayed to meet media tomorrow

After several days of rumours, news has broken on Friday night that Mohamed Al Fayed is to sell Fulham to billionaire Shahid Khan.

Khan will become the sixth US owner in the Premier League, with Manchester United, Liverpool, Arsenal, Aston Villa and Sunderland also controlled by Americans.

Mohamed Al Fayed, who sold Harrods for £1.5 billion in 2010, bought Fulham FC for £6.25 million in 1997 when the club were in the second tier of English football. The Cottagers were quickly promoted to the Premier League, a league which they have stayed in ever since, and in 2009–10  Fulham reached the final of the Europa League.

Al Fayed is rumoured to have sold Fulham for £150-£200 million after 16 years in West London.

So what do we know about Shahid Khan, apart from that he has an amazing moustache?

With an estimated fortune of £1.7 billion, Khan, born in Pakistan, is thought to be twice as wealthy as Al Fayed. Moreover, Khan’s purchase of Fulham is said to be a highly calculated move from a man already heavily involved in sports.

The owner of the Jacksonville Jaguars American Football franchise has already begun dipping his toe into matters in London, volunteering his NFL team to play in England each of the next four seasons.

Fulham fans will be full of expectation that Martin Jol will now be given large funds to buy new players this summer.

A report on Shahid Khan by Forbes magazine can be seen below.