Derby 'off market' as Turki Alalshikh withdraws proposed investment

Saudi government official Turki Alalshikh has abandoned his proposed investment into Derby County, leaving the Championship club "off the market", the club said on Monday. The proposed takeover by Alalshikh's Lion Sport had been progressing with the English Football League and the Independent Football Regulator.

The potential deal, which had been on the table with the independent regulator since May, would have seen Alalshikh, the co-founder of boxing promotion company Zuffa, take a stake in the club. Alalshikh is one of the world's most powerful boxing promoters and serves as chairman of Saudi Arabia's General Entertainment Authority; he is close to the Kingdom's de facto ruler Mohammed bin Salman. The proposed investment prompted concerns from human rights campaigners, including Amnesty International, which last month said the independent regulator faced a "defining test" over the investment.

Derby were told on Monday that Alalshikh no longer wanted to continue with the purchase of his stake. "For the benefit of any doubt, the club is now off the market," a club statement said. The collapse follows a period in which the transaction had been under review by English football's independent regulator.

Human rights groups have criticised Alalshikh for his role in alleged 'sportswashing'. Saudi Arabia has been accused of using sports to improve its image in the wider world to distract from its human rights record, treatment of women, use of the death penalty and its anti-LGBT stance.

As well as being the owner of Egyptian club Pyramids between 2018 and 2019, Alalshikh recently owned Spanish side Almeria but sold the club to an investment group from Saudi Arabia last May.

The club added: "It will continue to operate under the loyal, committed and unwavering support of Clowes Developments."