Saudi billionaire nears acquisition of English club

British reports reveal that Saudi advisor Turki Al-Sheikh has reached a preliminary agreement to acquire 80% of Derby County's shares for £50 million, pending regulatory approvals.

British media reports have revealed that Saudi advisor Turki Al-Sheikh has reached a preliminary agreement to acquire a controlling stake in English club Derby County, in a deal valued at around £50 million. The reports indicate that Al-Sheikh will acquire 80% of the club's shares, making him the majority owner and key decision-maker in Derby County's management, pending regulatory approvals from the English Football League and relevant authorities. Derby County is one of England's most historic clubs, having won the English league title twice, but has suffered financial crises in recent years, relegation to the third tier, and a return to the Championship. The new owners hope to provide significant investment to help the team compete for a return to the Premier League. Turki Al-Sheikh has previous experience in sports investment, having previously owned Egyptian club Pyramids and Spanish club Almeria. So far, neither the club nor Al-Sheikh has officially announced the completion of the deal.