Aliko Dangote, Africa’s richest man and founder of the Dangote Group, had previously declared in 2020 his ambition to purchase the North London club after the completion of his refinery project.
New York – Alhaji Aliko Dangote, President and CEO of Dangote Group, has expressed regret over not purchasing Arsenal Football Club when he had the chance.
The Nigerian billionaire had previously expressed interest in acquiring the English Premier League club when it was valued at approximately $2 billion.
In an interview with Bloomberg’s Francine Lacqua in New York, Dangote explained that his decision to prioritize the completion of his massive refinery project meant that he missed out on the opportunity to buy the club.
“I think that time has passed. The last time we had this interview, I mentioned that once I finished with the refinery, I would try to buy Arsenal,” Dangote said. “But now everything has gone up, including the value of the club. Arsenal is doing extremely well right now, whereas, back then, the team wasn’t performing as well.”
He admitted that the current valuation of Arsenal, estimated at $4 billion, is beyond his financial reach for such a venture. “I don’t have that kind of excess liquidity to go and buy a club for $4 billion and use it as a promotional tool. But I remain one of Arsenal’s biggest fans and will continue to support the team by watching their games.”
When asked if he regretted not purchasing Arsenal when its value was lower, Dangote responded, “Yes, I do regret not buying it earlier. But my funds were more needed in completing my refinery project than in acquiring Arsenal. It was a choice between finishing my project or buying the club.”
Dangote, Africa’s richest man and founder of the Dangote Group, had previously declared in 2020 his ambition to purchase the North London club after the completion of his refinery project. However, that dream has now been set aside.
Arsenal sits tight in third place on the Premier League table, following an intense battle with Manchester City last Sunday that ended in a draw.
Join our Channel...