Turki Alalshikh is one of the world's most powerful boxing promoters
Saudi Arabia government official Turki Alalshikh has abandoned his proposed takeover of Derby County.
The deal with Alalshikh's Lion Sport looked set to go ahead, having been sanctioned by the English Football League (EFL) and the Independent Football Regulator (IFR).
But Derby were told on Monday that Alalshikh no longer wanted to continue with the purchase of what BBC Radio Derby understands would have been a controlling stake.
"For the benefit of any doubt, the club is now off the market," a club statement said.
"It will continue to operate under the loyal, committed and unwavering support of Clowes Developments."
In a statement on social media, Alalshikh thanked those at Derby County for their involvement in the proposed deal, but suggested the time it took to be ratified meant he had to withdraw.
"We understood that the IFR process takes time and fully respect the importance of that," he posted 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."
Pre-match, post-match and topical Rams content
Subscribe and listen for everything you love about Derby
A deal for Alalshikh, the co-founder of boxing promotion company Zuffa, to take a controlling stake in the Championship club had been on the table with the football regulator since May.
An IFR spokesperson said: "The IFR has a statutory duty to thoroughly test all prospective owners of a club in the top five divisions of men's football.
"The assessment was completed in 55 days out of the 90 days allowed by law.
"The IFR had taken a 'minded-to decision' to approve the bid before the start of the 2026-27 season. This had been communicated to all parties last week.
