SHAHID Khan has completed a deal to buy Fulham to end Mohamed Al Fayed's 16-year stint as owner.

The Pakistan-born car tycoon will be unveiled at Craven Cottage later today after rubber-stamping a £150million takeover of the Premier League club last night.

Khan also owns NFL Jacksonville Jaguars and is worth around £1.65billion.

A statement on Fulham's official website read: "Mohamed Al Fayed has sold Fulham Football Club to Shahid Khan, the CEO of Flex-N-Gate Group and owner of the Jacksonville Jaguars of the National Football League in the United States.

"The transaction has been approved by the Barclays Premier League. Khan assumes 100 per cent ownership of the club, debt-free, as of today."

Khan, 62, paid tribute to Al Fayed's work in SW6 after taking the Whites from the third tier and establishing them in the top-flight.

"(Mohamed Al Fayed) is giving me the privilege and responsibility of serving as the next custodian of Fulham Football Club," he said.

"I am extremely honoured to accept and want to thank him, on behalf of everyone who loves Fulham, for 16 years of exceptional service to the club. Mr Al Fayed rescued the club in its hour of need and has led it to a sustained place within the Premier League.

"Fulham is the perfect club at the perfect time for me. 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."

Al Fayed, 84, added: "My time of serving as the custodian of Fulham Football Club would one day come to an end, and I feel that time has now arrived.

"The time is right because I have found a very good man in Shahid Khan to accept the responsibility and privilege that I have enjoyed at Fulham since 1997. Fulham will be in very good hands."

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