The President and CEO of Dangote Group, Aliko Dangote, has expressed his disappointment at missing out on the opportunity to buy Arsenal Football Club.
The Nigerian billionaire, whose passion for owning a football club has been well-documented, revealed in an interview with Bloomberg’s Francine Lacqua in New York that he once considered purchasing the North London team when it was valued at approximately $2 billion.
Dangote explained that his decision to prioritize the completion of his massive refinery project over acquiring Arsenal ultimately cost him the chance to become the club’s owner.
“I think that time has passed. The last time when we had this interview, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal,” he said.
He noted that the club’s value has significantly increased since then, with Arsenal’s current valuation estimated at around $4 billion, making it a much more expensive proposition.
Reflecting on the missed opportunity, Dangote shared, “But you know everything has gone up and the club too is doing very well. Arsenal is doing extremely well right now. That time Arsenal wasn’t doing well.” He admitted that he no longer has the financial flexibility to pursue such an acquisition and emphasized that his initial interest was driven by a combination of business and passion. “I think I don’t have that kind of excess liquidity to go and buy a club for $4 billion so to speak and use it as a promotional something,” he explained.
Although Dangote’s ambitions to take over Arsenal have now been put to rest, his devotion to the club remains unwavering.
“But what I will do is to continually be the biggest fan of Arsenal. I watch their games anytime they are playing. So, I will remain a major supporter of Arsenal but I don’t think it makes sense today to buy Arsenal,” he stated.
When asked if he regretted not making the purchase when Arsenal’s valuation was lower, Dangote candidly admitted, “Actually, I regret not buying it before but you know my money was more needed in completing my project (Dangote refinery) than buying Arsenal. I would have bought the club for $2 billion but you know I wouldn’t have been able to finish my project. So, it was either I finish my project or go and buy Arsenal.”
Dangote, who founded the Dangote Group in 1981, has built it into the largest conglomerate in West Africa, with interests ranging from cement production to sugar refining.
His earlier statements in 2020 indicated a clear intention to pursue the acquisition of Arsenal post-refinery, but his recent remarks signify a shift in priorities as he now acknowledges that his resources are better utilized in expanding his business empire.
Despite shelving his dream of owning the English Premier League club, Dangote’s support for Arsenal continues to be strong. He remains one of the most prominent African voices in the club’s global fan base, watching every game and cheering for the team’s success on and off the pitch.
