Derby County's planned sale to Saudi official Turki Alalshikh has fallen apart, with the Championship club confirming they are once again "off the market."
Alalshikh's company, Lion Sport, had been negotiating to acquire a controlling stake in the club, and the process had already cleared two significant hurdles: it was sanctioned by both the English Football League (EFL) and the newly established Independent Football Regulator (IFR). Derby had been informed just last week that regulatory approval was in place, seemingly clearing the path for the deal to be finalized.
However, the club was told on Monday that Lion Sport had decided not to proceed. In a statement, Derby said: "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."
Explaining his decision on social media, Alalshikh pointed to the length of the regulatory process as the key factor behind his withdrawal. He acknowledged the need for thorough vetting but said the timing left him unable to adequately prepare for the season that had already begun.
"We understood that the IFR process takes time and fully respect the importance of that," Alalshikh wrote 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."
He also thanked those involved at Derby for their part in the negotiations, leaving the door open for renewed discussions down the line.
The IFR confirmed it had completed its assessment of the bid in 55 days, well within the 90-day statutory limit, and had reached a "minded-to" decision to approve the takeover before the 2026-27 campaign got underway — a decision that had been relayed to all parties involved last week.
A spokesperson for the regulator outlined the scope of its review process: "The IFR has a statutory duty to thoroughly test all prospective owners of a club in the top five divisions of men's football. 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."
The proposed takeover had not been without controversy. Human rights organizations, including Amnesty International, had raised concerns earlier in the process, with the group stating in June that the regulator faced a "defining test" in evaluating the bid. Alalshikh, who chairs Saudi Arabia's General Entertainment Authority and maintains close ties to Crown Prince Mohammed bin Salman, has previously faced criticism from human rights advocates over accusations of using sport to soften the kingdom's international image — a practice often labeled "sportswashing."
Alalshikh's football background includes a prior ownership stint at Egyptian club Pyramids from 2018 to 2019, as well as his recent ownership of Spanish side Almeria, which he sold to a Saudi investment group last May. Outside of football, he is a prominent figure in the boxing world, having co-founded promotion company Zuffa alongside UFC president Dana White.
With the takeover now off, Derby will continue under the ownership of Clowes Developments as they prepare to open their league campaign away at Charlton on Saturday.
Based on reporting from BBC Sport and The Independent.