Turki Alalshikh’s Derby County takeover bid collapses | OneFootball

Derby County have confirmed that the proposed takeover of the club by Turki Alalshikh’s Lion Sport group has collapsed.

Saudi Arabia government official Alalshikh had been in the process of purchasing a controlling interest in Derby.

However, the club announced on Monday that Lion Sport had informed them it no longer wished to proceed with the purchase.

“The club can confirm discussions with Lion Sport to buy a controlling interest in Derby County will no longer proceed,” Derby said in a statement.

“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.”

In his own statement, Alalshikh said: “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.”