Saudi government official and boxing powerbroker Turki Alalshikh has abandoned his proposed takeover of Derby County. Derby were in discussions with Alalshikh’s Lion Sport over the purchase of controlling interest in the Championship outfit, but talks will no longer proceed with the club now “off the market”.
The acquisition process had been sanctioned by both the Independent Football Regulator (IFR) and the EFL, notification of which Derby received last week. The deal with Alalshikh's Lion Sport looked set to go ahead, having been sanctioned by the English Football League (EFL) and the Independent Football Regulator (IFR). But Derby were told on Monday that Alalshikh no longer wanted to continue with the purchase of what BBC Radio Derby understands would have been a controlling stake.
But in a stark change of course, Derby confirmed on Monday: “Today the club received notice that Lion Sport no longer wanted to continue with the purchase. “For the benefit of any doubt, the club is now off the market and will continue to operate under the loyal, committed and unwavering support of Clowes Developments.”
Alalshikh cited the length of time for his takeover to get ratified by the IFR as one of the primary reasons he chose to pull out of a deal, which left him with “no time” to make preparations for the upcoming season. In a statement on social media, Alalshikh thanked those at Derby County for their involvement in the proposed deal, but suggested the time it took to be ratified meant he had to withdraw. "We understood that the IFR process takes time and fully respect the importance of that," he posted on X. "But unfortunately with the season already started, it would leave us with no time to prepare the team or the club for the season ahead. "After careful consideration, we don't feel it is right to proceed at this time without the necessary preparation in place, but we will remain in conversation with the club and see what is possible in the future."
An IFR spokesperson said: "The IFR has a statutory duty to thoroughly test all prospective owners of a club in the top five divisions of men's football. "The assessment was completed in 55 days out of the 90 days allowed by law. "The IFR had taken a 'minded-to decision' to approve the bid before the start of the 2026-27 season. This had been communicated to all parties last week. "In every case, we must consider a broad but fixed list of matters, all set out in statute. "This includes assessing all candidates against the IFR's test on financial soundness, sufficient financial resources, source of wealth, and honesty and integrity - including a check on any criminal proceedings or convictions, civil actions and other regulatory investigations."