Saudi government official Turki Alalshikh has withdrawn from his planned investment in Derby County.
Alalshikh’s Lion Sport appeared close to completing the transaction after it received approval from the English Football League and the Independent Football Regulator.
However, Derby learned on Monday that Alalshikh had decided not to proceed with the acquisition of a stake in the club.
“To remove any uncertainty, the club is no longer available for sale,” Derby said in a statement.
“It will remain under the dedicated, dependable and steadfast ownership of Clowes Developments.”
The proposal, which would have given the Zuffa boxing promotion co-founder a share in the Championship side, had been under consideration by English football’s independent regulator since May.
Human rights advocates, including Amnesty International, had expressed concerns about the potential investment. Last month, the organisation described the case as a major test for the independent regulator.
Alalshikh chairs the Saudi General Entertainment Authority and has close ties to the country’s de facto leader, Mohammed bin Salman. Human rights organisations have accused him of participating in alleged “sportswashing.”
The country has faced claims that it uses sporting events to enhance its international reputation and divert attention from concerns involving human rights, women’s treatment, capital punishment and policies opposing LGBT people.
Alalshikh owned Egyptian side Pyramids from 2018 to 2019 and was also the owner of Spanish club Almeria before selling it to a Saudi investment group last May.
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