Shahid Khan, owner of NFL side Jacksonville Jaguars, has bought Fulham.
The financial details of the takeover have not been confirmed, but media estimates suggest Khan will have paid between £150m and £200m to buy the Cottager from Mohamed Al Fayed.
The 84-year-old former Harrods owner has been chairman for 16 years, taking the club from the Third Division when he bought them for £30m in 1997 to a solid Premier League side.
The club’s new owner is a 62-year-old billionaire car-parts entrepreneur, who left his native Pakistan aged 16 to study engineering in the USA.
Khan said: “Fulham is the perfect club at the perfect time for me. 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.”
And he’s going to take more than a passing interest in kit design, judging by the video above.
It would be remiss of us not to take a moment to consider Al Fayed’s outstanding contribution to English football as he takes his leave…