SAUDI boxing chief Turki Alalshikh has pulled the plug on his takeover of Derby County.

The Championship club had got the purchase sanctioned by the Independent Football Regulator and the EFL last week.

Saudi boxing supremo Turki Alalshikh was in talks to buy Championship side Derby County Credit: GETTY

But Alalshikh has ended his interest in buying the Rams Credit: GETTY

But Alalshikh, who owns Lion Sport, is no longer going ahead with the deal and the Rams are off the market.

A statement from Derby read: “The club can confirm discussions with Lion Sport to buy a controlling interest in Derby County will no longer proceed.

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“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.

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“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.

“Our preparations continue for the new EFL season, beginning against Charlton Athletic on Saturday.

“The club will offer no further comment.”

Alalshikh has made his name in sport thanks to Saudi Arabia pushing to host the biggest fights in boxing.

The latest bout he is involved in is Anthony Joshua’s showdown with Tyson Fury, which is scheduled for later this year.

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Turki Alalshikh is at the forefront of Anthony Joshua’s long-awaited showdown with Tyson Fury Credit: GETTY

Alalshikh has been instrumental in finalising the fight, which is slated to take place at Madison Square Garden on November 20 Credit: AP

Alalshikh added: “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.

“I personally wish the team and club every success for the season ahead.”