Derby 'off market' as takeover deal collapses
Summary
Saudi official Turki Alalshikh has stopped his plan to buy a controlling stake in Derby County football club. Although the deal was approved by football authorities, Alalshikh said the process took too long and he could not prepare the team for the new season. Derby County will remain under the current owner's control for now.Key Facts
- Turki Alalshikh is a government official from Saudi Arabia and co-founder of boxing promotion company Zuffa.
- His company, Lion Sport, planned to buy a controlling share in Derby County football club.
- The takeover was approved by the English Football League and the Independent Football Regulator.
- Alalshikh withdrew because the approval process took too long, leaving no time to prepare for the season.
- The club announced it is no longer for sale and will stay with current owners Clowes Developments.
- The Independent Football Regulator tested Alalshikh’s financial standing and integrity before approval.
- Human rights groups criticized the deal, accusing Saudi Arabia of using sports to improve its image despite human rights concerns.
- Alalshikh has also owned football clubs in Egypt and Spain and is linked to Saudi Arabia’s leadership.
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