Turki Alalshikh, a senior Saudi official with an estimated wealth of £2billion, has pulled out of an investment deal to take over Derby County at the 11th hour.
The deal had looked certain to proceed after it was signed off by the Independent Football Regulator and the EFL, with the club receiving notification of the approval last week. On Monday afternoon, however, Alalshikh backed away, citing the length of time the regulator had taken to ratify the deal.
Writing on his X account, Alalshikh said: "I would like to thank everyone at Derby County Football Club, and everyone involved in this process for all their hard work over the past few months. We understood that the IFR (independent football regulator) process takes time and fully respect the importance of that, 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. I personally wish the team and club every success for the season ahead."
Derby's response
Derby's reaction was blunter than Alalshikh's statement. The club said: "The club can confirm discussions with Lion Sport to buy a controlling interest in Derby County will no longer proceed. The purchase process had been sanctioned by both the Independent Football Regulator and the EFL, notification of which the club received last week. However, 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."
