Friday 6 November 2020 11:46 am

New: Derby County head for Gulf ownership

Derby County are set to be the latest club to move into Gulf ownership, it emerged today.

Bin Zayed International LLC, owned by Sheikh Khaled bin Zayed Al Nehayan, has agreed a deal in principle with current owner Mel Morris.

Sheikh Khaled is a cousin of Manchester City owner Sheikh Mansour, who has poured millions of his personal fortune into turning the club into a global brand.

Read more: The week in Sports Business

Media reports suggest the deal is worth in the region of £60m.

A statement on the club’s website read: “These talks progressed to the point where a deal has, in principle, been agreed between the two parties.

“The club’s submission under the Owners and Director’s test for Derventio was approved by the EFL board on Thursday.

“Derventio Holdings (UK) Limited, who’s ultimate controlling entity is Bin Zayed International LLC, owned by Sheikh Khaled Zayed Bin Saquer Zayed Al Nayhan, may now proceed with the transaction, which is expected to close very soon.”