Derby 'off market' as takeover deal collapses
Saudi Arabia government official Turki Alalshikh abandons his proposed takeover of Championship club Derby County.
Derby County's proposed takeover by Saudi Arabia's Turki Alalshikh has collapsed due to a collapse in negotiations. The deal, which was set to provide Alalshikh with a controlling stake in the Championship club, was approved by the English Football League (EFL) and the Independent Football Regulator (IFR). However, Derby County announced on Monday that Alalshikh had decided to no longer proceed with the purchase.
The club now remains off the market and will continue to operate under the support of Clowes Developments. Alalshikh, the co-founder of boxing promotion company Zuffa, cited the lengthy Independent Football Regulator (IFR) approval process as the reason for his withdrawal. The IFR's assessment of prospective owners has a statutory duty to thoroughly test all candidates, including an evaluation of financial soundness, source of wealth, and integrity.
Human rights campaigners had raised concerns over Alalshikh's reputation, citing his role in alleged "sportswashing" in Saudi Arabia, where he is accused of using sports to improve the Kingdom's image while obscuring its human rights record.
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