He was the first majority owner of the team. He remained part of the team ownership until 2011, when he and his partners sold the team to Shahid Khan, a businessman based in Illinois. The sale was reportedly worth $760 million, and was finalized in January of 2012. He and his wife live in a massive home in Jacksonville, Florida. They now focus primarily on running the Jaguars Foundation, an organization that grants $1 million per year to initiatives that assist economically and socially disadvantaged children and families.