Africa’s richest man, Aliko Dangote, Chief Executive of the Dangote Group, has revealed the reason behind his decision not to purchase Premier League giants Arsenal, putting an end to years of speculation.
Back in 2020, Dangote had expressed his intention to acquire the North London club after completing his refinery project.
However, in a recent interview with Bloomberg’s Francine Lacqua in New York, the billionaire business magnate disclosed that the opportunity had passed.
“I think that time has passed,” Dangote stated. “The last time we spoke, I told you that once I finished with the refinery, I would try to buy Arsenal. But the issue is that everything has gone up. The clubs are all doing well—Arsenal is doing extremely well now. At that time, they were not doing very well.”
Dangote further explained that the current financial landscape and the rise in club valuations have made it unfeasible for him. “I don’t have the kind of excess liquidity needed to buy a club for $4 billion just for promotional purposes. I would rather invest the money elsewhere.
Reflecting on the missed opportunity, he added, ““I regret not buying Arsenal before, but my money was more needed in completing my projects at the time. I could have bought it for $2 billion back then.”
While his ambition to own Arsenal may no longer be realistic, Dangote emphasized his unwavering support for the club as a dedicated fan.
“What I’ll do, I will continue to be the biggest fan of Arsenal. I watch their games every time.”
