A self-made Pakistani-born businessman with a passion for American football has been confirmed as the National Football League's first ever minority owner.

Shahid Khan's estimated $760 million purchase of the Jacksonville Jaguars was unanimously approved by NFL owners on Wednesday.

A smiling Khan told reporters at a press conference that owning an NFL franchise represents the fulfillment of his “lifelong American dream.”

Khan immigrated to the United States from his hometown of Lahore, Pakistan at the age of 16. After studying industrial engineering at the University of Illinois, he went on to become the owner of a multi-billion dollar automotive parts manufacturer at age 30.

The 61-year-old Khan hopes that his professional success continues with his purchase of the struggling Jaguars, who recently fired their head coach after starting the season with a disappointing 3-8 record.

Khan's signature handlebar mustache and upbeat demeanor have already proved popular with Jacksonville fans, who are anxious to see the teams recent losing ways reversed.

Khan will officially take over the team's ownership on January 4.