Bristol City talks Saudi kingpin Turki Alalshikh over £150‑200m takeover – talks end

When Stephen Lansdown, chairman and majority shareholder of Bristol City Football Club, met with Turki bin Abdulmohsen Alalshikh, chairman of the Saudi General Entertainment Authority in London last April, talks over a possible £150‑200 million purchase collapsed by month’s end. The Athletic broke the story on May 15, 2024, noting that Lansdown, who has owned the club since 2000, rejected the offer as far below his £250 million floor. This clash matters because it reveals how Saudi capital continues to sniff around England’s second‑tier clubs, even after the high‑profile Newcastle United deal.

Background: What brought the two parties to the table?

Lansdown’s stakes come from Hargreaves Lansdown PLC, the Bristol‑based wealth‑management firm he founded in 1981. The company now commands £114.7 billion in assets under administration (as of 31 December 2023), giving Lansdown the financial muscle to pour over £100 million of his own money into Bristol City, including the £45 million Ashton Gate overhaul completed in July 2016.

Alalshikh, a 43‑year‑old royal with a résumé that reads like a Saudi‑state playbook, was appointed by King Salman in 2016 to head the General Entertainment Authority (GEA). The GEA, headquartered in Riyadh, drives the $38.7 billion entertainment push under Vision 2030, and Alalshikh has also chaired the Saudi General Sports Authority. His recent résumé includes sanctioning the £100 million Tyson Fury‑vs‑Oleksandr Usyk bout in Riyadh on May 18, 2024.

Details of the April talks

The meeting took place at Lansdown’s request, according to the Athletic. Alalshikh arrived in London via intermediaries in early April, signalling a genuine appetite for a foothold in the EFL Championship. Sources say the discussion centered on a valuation range of £150‑200 million, a figure that Lansdown felt undervalued both the club’s on‑field assets and the newly‑redeveloped Ashton Gate Stadium, which now seats 27,000 and pulls in around £4.7 million each year from concerts, rugby and other events.

In a later email, Lansdown’s team reportedly counter‑offered a £250 million floor, citing the stadium’s commercial potential, recent £29.8 million turnover and a £5.2 million operating profit from the 2023‑24 accounts. The gap proved too wide; by April 30 the talks fizzled without a formal bid.

Financial context: Why the numbers matter

• Newcastle United’s 2021 purchase by the Saudi Public Investment Fund (PIF) was £305 million for an 80 % stake, setting a benchmark for overseas Saudi interest.
• PIF manages roughly $900 billion in assets (Q4 2023), dwarfing the £250 million Lansdown threshold.
• Bristol City’s 2023‑24 league finish – ninth place with 72 points – makes it one of the highest‑valued clubs outside the Premier League.
• Average Championship club valuations hover around £200 million; Lansdown’s demand is therefore aggressive but defensible given the stadium upgrades.

The disparity between Alalshikh’s offer and Lansdown’s ask reflects a broader trend: Saudi investors often look for headline‑grabbing, lower‑cost entries, whereas club owners with deep community ties demand premium prices to protect legacy.

Responses from the parties involved

BBC Sport, which echoed The Athletic’s report, quoted a Bristol City spokesperson saying, “We are aware of the reports but have no comment to make at this time.” Meanwhile, Alalshikh’s public relations team declined to comment, a pattern seen after his February 2024 denial of interest in West Ham United.

Lansdown, knighted in 2014 for services to business and philanthropy, reaffirmed his commitment to the club’s long‑term plan through the 2028‑2029 season. He also reminded fans of his 2016 pledge to eventually hand the club to the Bristol City Supporters’ Trust – a promise that still lacks a concrete timetable.

Broader impact: Saudi ambition in English football

Alalshikh’s flirtation with Bristol City underscores how the Saudi Kingdom continues to probe the English game beyond the Premier League marquee. The PIF’s Newcastle deal proved that a heavyweight entry can reshape a club’s financial landscape, but it also sparked debate about foreign influence.

For Bristol City, the failed talks are a double‑edged sword. On one hand, they avoided a deal that many supporters feared could dilute local ownership. On the other, they missed a potential cash infusion that might have accelerated stadium‑related projects and squad investment.

What’s next for Bristol City?

As of May 20, 2024, no follow‑up meetings are scheduled. Lansdown’s focus appears to be on growing revenue streams from non‑football events at Ashton Gate and strengthening the squad ahead of the 2024‑25 campaign. The club’s financial health – a £5.2 million operating profit and a relatively modest wage bill anchored by top scorer Nahki Wells (£1.2 million annual salary) – suggests it can weather the next few seasons without external capital.

However, the ever‑watchful eyes of PIF‑backed investors mean the conversation may reopen if the Championship’s TV rights and revenue distribution improve, or if Lansdown’s eventual hand‑over to the supporters’ trust creates a more market‑friendly structure.