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Illinois businessman Shahid Khan set to buy Rams

The St. Louis Rams have a buyer.

Bernie Miklasz of the St. Louis Post-Dispatch is reporting that Rams owners Chip Rosenbloom and Lucia Rodriguez have entered into a signed agreement to sell the team to Shahid Khan, the 55-year-old president of Flex-N-Gate Corp., an auto-parts manufacturer based in Urbana, Illinois.

Urbana, where Khan has lived for his entire adult life, is about a three-hour drive from St. Louis. The sale to a Central Illinois businessman would seem to improve the chances of the Rams staying in St. Louis, and Miklasz reports that Khan is an enthusiastic Rams fan who wants the team to stay where it is.

Per Miklasz, Khan will purchase the 60 percent of the team owned by Rosenbloom and Rodriguez, who inherited the team when their mother, Georgia Frontiere, died. It is not currently known whether Khan will also purchase the 40 percent of the Rams that Stan Kroenke owns.

The deal won’t close until March, and all sales of NFL teams must be approved by a vote of the owners.