Africa’s richest man, Aliko Dangote, has stated that the opportunity for him to purchase Arsenal Football Club has likely passed, citing changing economic realities and the rising value of the club.
In an interview with Bloomberg’s Francine Lacqua, Dangote reflected on his long-standing interest in buying the Premier League club, which he had once publicly expressed.
However, he explained that the situation has shifted since his initial ambition, particularly as his focus was on completing his massive Dangote Refinery project in Nigeria.
“The last time we had this interview, I said as soon as we finish the refinery, I am going to try and buy Arsenal. But the issue is that everything has gone up. And the clubs too are doing extremely well. At that time, Arsenal wasn’t doing very well,” Dangote said.
Dangote expressed some regret over not acquiring Arsenal when the price was around $2 billion, but he acknowledged that the financial commitment required to finish his refinery took precedence.
“I would have bought it for $2 billion, but I wouldn’t have been able to finish my project. So, it was either you finish your project or buy Arsenal,” he explained.
Now, with Arsenal reportedly valued at $4 billion, Dangote indicated that purchasing the club no longer makes financial sense for him, as he doesn’t have the “excess liquidity” necessary for such an investment. Instead, he prefers to channel his resources into more impactful ventures.
Despite shelving his plans to become the club’s owner, Dangote emphasized his unwavering support for the team.
“I will continue to be the biggest fan of Arsenal. I watch their games every day. I will remain a major supporter of the club, but I don’t think it makes sense today to buy Arsenal,” he concluded.
