Alhaji Aliko Dangote, the President and Chief Executive of the Dangote Group and one of Arsenal’s biggest fans, has expressed regret for not purchasing the club when it was valued at $2 billion, especially now that its worth has doubled.
“Actually, I regret not buying it before, but my money was more needed for completing my project, the Dangote Refinery, than for buying Arsenal. I would have bought the club for $2 billion, but I wouldn’t have been able to finish my project. So, it was either I finish my project or go and buy Arsenal.”
Around 2020, when Arsenal was struggling in the English Premier League, the richest man in Africa was heavily linked to purchasing the London club, though it remains unclear why the deal didn’t materialize.
In an interview with Bloomberg’s Francine Lacqua in New York, Dangote explained that it became impossible for him to proceed with the deal after his significant investment in the Dangote Refinery.
“I think that time has passed. The last time we had this interview, I told you that as soon as I finished with the refinery, I was going to try and buy Arsenal. But you know, everything has gone up, and the club too is doing very well. Arsenal is doing extremely well right now. Back then, Arsenal wasn’t doing well.
“I don’t have that kind of excess liquidity to buy a club for $4 billion, so to speak, and use it as a promotional venture.”
He emphasized that, despite not purchasing the club, he will continue to be a devoted fan:
“But what I will do is to continually be Arsenal’s biggest fan. I watch their games whenever they are playing. So, I will remain a major supporter of Arsenal, but I don’t think it makes sense today to buy the club.”
