Aliko Dangote, the Chairman of Dangote Group, has shared his reflections on missing the opportunity to buy Premier League club Arsenal for $2 billion.
In a recent chat on Bloomberg TV in New York, Dangote admitted that his window to purchase the football club has now closed, as the club’s value has soared to nearly $4 billion. Back in 2020, the Nigerian billionaire had publicly stated his plans to acquire Arsenal once he wrapped up his refinery project.
As of September 2024, Dangote holds the title of Africa’s second-richest individual, with a net worth of $13.4 billion. Despite his immense wealth, he mentioned that it’s no longer feasible for him to justify spending $4 billion on the club.
“The opportunity has passed,” Dangote remarked. “When we last spoke, I was optimistic about buying Arsenal after finishing my refinery. But now, everything has gone up, including football club values, and Arsenal is doing extremely well. Back then, they weren’t in the same position.”
He pointed out that investing in his refinery was the right decision at the time. “I do regret not buying Arsenal earlier, but the funds were crucial for completing my projects. I could have secured the club for $2 billion, but then I wouldn’t have been able to finish my refinery.”
Despite stepping back from the potential purchase, Dangote remains a dedicated Arsenal fan. “I’m still their biggest supporter. I watch every game and will continue cheering for them, but purchasing the club now just doesn’t make financial sense.”
Looking back on his choices, he reiterated, “Yes, I regret not buying Arsenal earlier, but finishing my project was the right call.”
