The first thing NFL owner Shad Khan did when he took over the Jacksonville Jaguars? Invest in a brand-new locker room. According to Khan, locker rooms are a necessary investment in the players, and he has a fantastic quote to back that up. Here’s the full story from CBS News.
A great 60 Minutes piece always seems to start with a great character. And that's certainly what correspondent Byron Pitts had this week in his profile of Shad Khan, the new owner of the Jacksonville Jaguars.
Pakistani-born Khan arrived in this country at age 16 with $500 in his pocket. He went to college, built a wildly successful auto-parts empire, and last year at age 62, Khan paid $770 million to become an NFL team owner.
"This is the essence of what's great about America," Khan told 60 Minutes. "This is 1/32 of the NFL. Is that something really anybody can own? I'm a custodian, a steward for that."
Khan's story is certainly uplifting, but it's also a lesson in management skills. One of the keys to Khan's success seems to be his approach to employees--whether those workers are on an auto parts assembly line or a pro football field.
For example, what's the first thing Khan did as new owner of the Jags? He remodeled the players' threadbare locker room to the tune of $3 million dollars.
"The players didn't know me," Khan explained. "I'd just shown up. This was a time really to make a statement. This is an investment that is solely for the players."
What makes this facility state-of-the-art (mood lighting, waterfalls, drying-racks for wet equipment) is interesting, but what's more interesting are Khan's reasons for the high-priced renovation.
Khan explains that the $3 million locker room is part of the "emotional paycheck" that a good boss provides to employees. "It sets the expectations," says Khan. "I expect the best from you and I'm gonna provide the best for you."
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