Rams team for Sale

St. Louis, MO (Sports Network) - The majority owners of the St. Louis Rams have reportedly reached an agreement to sell the team to Illinois businessman Shahid Khan.

According to a report from the St. Louis Post-Dispatch, Rams owners Chip Rosenbloom and Lucia Rodriguez have entered into an signed agreement to sell the team to Khan, president of the Flex-N-Gate Corp., an auto parts manufacturer based in Urbana, Illinois.

The paper cited league sources in reporting Khan will purchase 60 percent of the franchise, though the report also said the deal won't be completed until sometime in March and needs approval from NFL owners.

Stan Kroenke owns the remaining 40 percent of the club and it is unclear if he will sell. If he does, Khan would own the team completely.

The report details Khan's roots in St. Louis, saying he arrived in St. Louis when his family moved there from Pakistan when he was a child.