Dangote Expresses Regret Over Missed Opportunity to Buy Arsenal Football Club
September 24, 2024
By Okafor Joseph Afam
Alhaji Aliko Dangote, the President and Chief Executive of Dangote Group, has voiced his regret over not purchasing English football club, Arsenal, when he had the chance. In a recent interview with Bloomberg’s Francine Lacqua in New York, the Nigerian billionaire revealed his long-held desire to own a football club, specifically mentioning the Gunners, who were valued at approximately $2 billion during the period of his interest.
Dangote explained that his commitment to his refinery project ultimately led him to pass on the opportunity to acquire the prestigious club. “I think that time has passed,” he said, reflecting on his earlier discussions and ambitions within the football world.
He reiterated his previous comments: “The last time when we had this interview, I told you as soon as I finished with the refinery, I was going to try and buy Arsenal.”
He acknowledged the current success of the football club, adding, “Everything has increased in value, and Arsenal is performing exceptionally well right now, unlike when they were struggling before. I don’t have the kind of surplus funds to purchase a club for $4 billion as a promotional venture. However, I will always be a dedicated fan of Arsenal.”
Dangote, who is known to be an avid supporter of the North London club, shared his passion for the team: “I make it a point to watch their games whenever they play, and I will continue to support them. Buying Arsenal doesn’t make sense for me at this time.”
When asked whether he regretted not buying Arsenal when its value was significantly lower, Dangote admitted, “I do wish I had purchased it earlier, but at the time, my funds were better allocated to completing my refinery project than to buying Arsenal. I could have bought the club for $2 billion, but I wouldn’t have been able to finish my project. It was a choice between finishing my project and acquiring Arsenal.”
In 2020, Dangote had publicly expressed interest in taking over at the Emirates Stadium after completing his ambitious refinery project. However, with the refinery now complete and Arsenal’s value skyrocketing, the richest man in Africa has shelved his football ownership dream.
Dangote, who founded the Dangote Group in 1981, leads the largest conglomerate in West Africa, with businesses spanning across cement, sugar, salt, and recently, oil refining.
