Derby County's proposed investment deal with Saudi Arabia government official Turki Alalshikh has collapsed, leaving the Championship club "off the market".
The deal, which had been sanctioned by the English Football League (EFL) and the Independent Football Regulator (IFR), fell apart on Monday after Alalshikh decided not to proceed with the purchase of his stake.
"For the benefit of any doubt, the club is now off the market," a Derby County statement said, confirming the club will continue to operate under the support of Clowes Developments.
Alalshikh, who is close to Saudi Arabia's de facto ruler Mohammed bin Salman, thanked Derby County for their involvement in the proposed deal on social media. However, he cited the time it took to be ratified by the IFR as the reason for his withdrawal.
The IFR spokesperson explained that the regulator had taken a 'minded-to decision' to approve the bid before the start of the 2026-27 season, but the process had been delayed due to the complexity of the assessment.
The proposed deal had raised concerns among human rights campaigners, including Amnesty International, which had accused the IFR of facing a "defining test" over the investment.
Alalshikh has been criticised by human rights groups for his role in alleged 'sportswashing', which involves using sports to improve the image of a country in the wider world to distract from its human rights record.
The collapse of the deal comes after Alalshikh recently sold Spanish side Almeria to an investment group from Saudi Arabia last May.
Derby County will now focus on the current season, with the club aiming to improve their Championship campaign under the continued support of Clowes Developments.
The IFR spokesperson did not comment on what the next steps would be for the regulator, but it is likely that the club will remain under the ownership of Clowes Developments for the foreseeable future.
The collapse of the deal marks a significant setback for Derby County, who had been hoping to secure significant investment to help improve their finances and competitiveness in the Championship.
Source: BBC Sports