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Billionaire NFL owner quietly buying up thousands of acres of Illinois farmland
Darrell Hoemann/C-U Citizen Access
An Investigate Midwest investigation shows Shahid Khan has snapped up 24,000 acres in recent years, but is staying mum about his next steps.
This story was co-published by CU-CitizenAccess.
Illinois billionaire Shahid Khan is known for building the automotive parts company Flex ‘N Gate, based in Urbana, IL, into a global manufacturer with 69 facilities around the world.
He also is known as the owner of the National Football League team Jacksonville Jaguars and the UK’s Fulham F.C. soccer team.
In addition, he has given millions of dollars to his alma mater, the University of Illinois at Urbana-Champaign, and millions to other charitable causes.
Marissa Plescia and Dylan Tiger
Illinois billionaire Shahid Khan is known for building the automotive parts company Flex ‘N Gate, based in Urbana, IL, into a global manufacturer with 69 facilities around the world.
He also is known as the owner of the National Football League team Jacksonville Jaguars and the UK’s Fulham F.C. soccer team.
In addition, he has given millions of dollars to his alma mater, the University of Illinois at Urbana-Champaign, and millions to other charitable causes.
In recent years, he has added to investments by quietly purchasing farmland through a company he owns called Baloo Enterprises LLC. A spokesperson for Khan confirmed earlier this month that Khan has purchased roughly 24,000 acres of farmland in central Illinois.
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National Pork Board The average acre of farmland in Iowa, the top corn-growing state, is worth $7,559, an increase of 1.7% from 2019, despite the effects of the pandemic and the accompanying economic slowdown, said Iowa State University on Tuesday. It was the second year in a row of modest increases, but land values remain $1,157 below their 2013 peak hit during the commodity boom. Assistant professor Wendong Zhang said large government payments, low interest rates, a rally in commodity prices and the limited supply of land on the market resulted in higher land values. In nearly three of every four sales this year, the buyer was a farmer. The estimate of land values is based on an annual ISU survey of real estate brokers, farm managers, lenders, appraisers, county assessors, and other experts.