Shahid Khan Forbes Flex-N-Gate Owner To Buy St. Louis Rams

Chicago, IL- It appears a wealthy Illinois Businessman will be buying the St. Louis Rams.  Shahid Khan is listed as the owner of one of Forbes largest Private Businesses in the United States.  Shahid Khan owns flex n gate Corp in Illinois.

It appears the apparent potential buyer of the St. Louis Rams may have tax issues in his past business dealings:

Shahid Khan boosted auto parts maker Flex-N-Gate of Urbana, Ill. onto our list of the country’s 200 largest private companies. Now the Internal Revenue Service says he and his wife appear to have used five different abusive tax shelters to duck $85 million of taxes on $250 million of income from 1999 to 2003.

Read More: www.forbes.com/forbes/2009/0112/028.html

Khan, 55, is the president of Flex-N-Gate Corp., an auto-parts manufacturer based in Urbana, Ill. Khan 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.

According to league sources, Khan will purchase the 60 percent of the team owned by siblings Rosenbloom and Rodriguez, who inherited the franchise from their late mother, Georgia Frontiere, in early 2008. NFL owners must approve the sale.

Read More: www.stltoday.com/stltoday/sports/stories.nsf/rams/story/130588200E53CBEC862576C700219A8C?OpenDocument