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Mohamed Al Fayed has sold Fulham to Jacksonville Jaguars owner Shahid Khan.
The Egyptian businessman, who took over the club in 1997, sold the club to the billionaire owner of the NFL side.
In a statement on the club?s website, Al Fayed said: ?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 with Shahid, whose success in business and passion for sport is very evident.
?I ask everyone who loves Fulham and our Craven Cottage home to welcome Shahid as he begins his journey as the next guardian of Fulham Football Club.?
62-year-old Khan, who also owns?automobile parts manufacturer Flex-N-Gate, assumes 100 per cent ownership of the club as of today.
A formal announcement will take place Saturday lunchtime at Craven Cottage.
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.?
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