Saudi Arabia’s head of boxing, Turki Alarusik, is in talks to invest in championship side Derby while authorities carry out the necessary tests.
Turki Alarcik considering signing Derby (Image: Getty Images)
Saudi Arabia’s head of boxing, Turki Alarusik, continues to negotiate with Derby over a potential investment deal as the Rams try to get the green light from league officials.
Mr Alalshik is a senior Saudi government official best known for his influence in boxing, but the kingdom continues to have an eye on opportunities in the sport and is said to have been involved in the purchase of Bristol City last year.
The Telegraph reported that he was in talks with Derby owner David Clowes. The Independent Football Regulator (IFR) is currently carrying out the necessary checks before potentially giving the Crows permission to proceed and agree a deal, which could be huge for the club’s ambitions.
Alalshik is the head of the General Entertainment Authority, a government department of Saudi Arabia, and serves as an advisor to ministers at the royal court.
Mr Clowes is a local businessman who has negotiated with a number of interest groups to save the club from liquidation in the summer of 2022. He is a lifelong supporter of the club and spent around £55m to pry Derby out of administration when the takeover was completed in June 2022.
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He is calling for a cash injection to strengthen the club’s situation as it aims to compete in the second tier. They last joined the Premier League in 2008, when they set an undesirable record for the fewest points won. Derby finished eighth in the Championship standings, four points out of the play-off places.
Clowes is open to selling up to 80% of his stake, but intends to remain chairman if an agreement is reached. Alarusik gained experience in soccer after owning clubs in Spain and Egypt.
Derby unfortunately missed out on the play-offs.
Saudi Arabia’s most notable investment in English football was in Newcastle, which they acquired in 2021. They helped transform Newcastle from relegation candidates to a Champions League team, breaking the club’s transfer record.
There have been accusations that interest in the Magpies is waning after a poor season in the transfer market, but they deny this.
PIF investment in Saudi Arabia’s LIV Golf was recently withdrawn as it continues to review its sports portfolio.
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