Pakistani-American Engineer Buys America's NFL Football Team

[Riaz Haq]

What is NFL? It is America's National Football League, the biggest sports franchise business in the world. It's much bigger the Indian Premier League (IPL) cricket franchise which is much better known to South Asians. The IPL has particularly been in the news lately for its controversial exclusion of Pakistani cricket players. Bollywood star Shahrukh Khan, who criticized Pakistanis' exclusion from IPL, has come under attack by right-wing Hindu extremists who are rampaging through the streets in India, burning theaters screening Khan's latest movie.

Today's media reports indicate that a Pakistani-American Shahid Khan of Illinois is in $450-$750 million deal to buy the NFL team St. Louis Rams. The final price will depend on whether Khan gets 60% or 100% of the stake in the NFL franchise. Khan, 55, is the president of Flex-N-Gate Corp., an auto-parts manufacturer in Urbana, Illinois with $2 billion in annual revenue. He has lived in the Champaign-Urbana area for more than 40 years and is married with two adult children. Khan is a graduate of the School of Mechanical and Industrial Engineering at the University of Illinois.

Flex-N-Gate employs over 9,500 people at 48 manufacturing and 9 product development and engineering facilities throughout Canada, the United States, Mexico, Argentina, and Spain. Khan, 55, and his wife, Ann Khan, live in Champaign. He has given millions of dollars to his alma mater, including funding a 2007 major expansion of the university’s tennis facilities — now called the Shahid and Ann Khan Outdoor Tennis Complex.

To put this deal in perspective for South Asian readers, "Mumbai Indians", the most expensive of the eight IPL franchises, was bought by Indian billionaire Mukesh Ambani for $112 million.

This season, each of the 32 NFL team owners were limited to $127m in salaries for their entire squad of players. That means some footballers are handsomely paid - Drew Brees, the star quarterback of the recent Superbowl winner the New Orleans Saints, has a six years $60m contract. By contrast, the most expensive IPL players fetch less than a million dollar bids, which are still the highest in the world for cricket players.

Indian cricket has taken a page from the big sports franchises in the West. Forbes magazine reports that the Board of Control for Cricket in India (BCCI), a nonprofit body controlling the game in the country, has racked up $1 billion to date from selling commercial rights to Indian cricket for the next five years. (One source: Nike paid $45 million to flash its logo on players' apparel and to sell garments to cricket fans.) "It's all about extracting the most value," said Lalit Modi, BCCI's new marketing chief, who hopes to eventually make $1.5 billion from Indian cricket, ten times what BCCI made in the last go-around.

In both IPL and NFL, the biggest source of revenue is the sale of television rights, followed by brand name merchandise sales, ticket sales and endorsement deals.

Shahid Khan is obviously an outstanding success story for Pakistani-Americans. Nationwide, Pakistani-Americans appear to be prospering. The US census calculated that mean household income in the United States in 2002 was $57,852 annually, while that for Asian households, which includes Pakistanis, was $70,047.

Hard numbers on how many people of Pakistani descent live in the United States do not exist, but a book published by Harvard University Press on charitable donations among Pakistani-Americans, “Portrait of a Giving Community by Professor Adil Najam,” puts the number around 500,000, with some 35 percent or more of them in the New York metropolitan area. Chicago has fewer than 100,000, while other significant clusters exist in California, Texas and Washington, D.C.

New York Times estimate of 109,000 Pakistani-born American workers' occupations include salesmen, managers or administrators, drivers, doctors and accountants as the top five categories.

Pakistani-Americans political participation remains woefully inadequate. But there are some signs that it is starting to happen at various levels starting from from local communities to state legislatures.


Related Links:

Pakistani-American Elected Mayor

Edible Arrangements--Pakistani-American's Success Story

Pakistani-Americans in Silicon Valley

IPL Mixes Sports, Business and Entertainment

HDF Fundraiser in Silicon Valley For Pakistan

Pakistani Diaspora in America

Asian-Americans: Contemporary Trends and Issues

New York City's Pakistani Population

Pakistani-Americans in NYC

NED Alumni Convention Draws 400

NEDians Convention 2007 in Silicon Valley

Muslim Demographics in America

Pakistanis in America

Pakistani-Americans Wikipedia Entry

Illegal Immigration From India to America Hits 125%

Pakistanis Find US Easier Fit than Britain

Portrait of a Giving Community

India's Washington Lobby

Occupations of Pakistani-Americans--New York Times

American Football Faces Financial Reform

Indian Premier League

Pakistani Engineer is New NFL Owner

[Riaz Haq]

Ex #Pakistan Prime Minister Qureshi's #Washington home to sell for $8M. 6th most expensive in DC mkt http://dc.curbed.com/2017/4/3/15163828/home-pakistan-mooen-qureshi-... … via @curbeddc

All photos via Coldwell Banker Residential Brokerage

At the moment, this Massachusetts Avenue Heights listing is the sixth most expensive single-family home on the D.C. market. Soon, it will close as one of the priciest sales of 2017 so far, above Jackie Kennedy’s Georgetown home and Rex Tillerson’s Kalorama home. The pending sale is an even $8 million.

The former owner of the home was former acting Prime Minister of Pakistan and the former senior official at the World Bank Mooen A. Qureshi. The late Herbert Haft once lived next door to this listing, and Vernon Jordan Jr., a leading figure in the Civil Rights Movement and close advisor to President Bill Clinton, lives on the same block.

 

 

In 2011, the owner of this listing attempted to break records by placing it on the market for $12 million, making it the second-highest residential listing price in prior Washington history. Two years earlier, it was priced at $18.5 million, which was $16 million higher than what the owners at the time bought it for in 2000. It later returned to the market in May 2016 for $8 million.

At one point, the residence was two properties. In 2001, the property was converted into one with eight bedrooms and 13 bathrooms across approximately 15,000 square feet of space and over an acre of land. Other notable features inside include a library, two kitchens, an elevator, and a pool cabana suite.

The listing agent is Eugene Coleman of Coldwell Banker Residential Brokerage.