Aliko Dangote, the Nigerian business mogul renowned for his extensive ventures in cement, sugar, refinery, and other industries, is not just a giant of commerce; he also harbours ambitions in the world of sports, particularly football.
The President and Chief Executive of Dangote Group, Aliko Dangote, has expressed his regret for not buying Arsenal when his interest was in owning a football club.
He said he wished he had bought the English side club when the team was valued at around $2 billion.
No Excess Liquidity
In an interview with Bloomberg’s Francine Lacqua in New York, the billionaire business mogul explained that he missed out on buying Arsenal by committing his resources to the refinery project.
He said: “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.
“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.
“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.
“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.”
While he expressed some regret over not purchasing the club at the time, Dangote emphasised that investing in the refinery was the best possible decision.
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“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.”
The 2020 Desire
In 2020, Africa’s richest man, Aliko Dangote, expressed interest in acquiring the English football club, Arsenal FC, for the sum of $2 billion.
Dangote, an open supporter of the club, said he would love to take over ownership of majority shares of the struggling club, which had led to much disgruntlement among fans.
Dangote was not the only businessman that had shown interest in acquiring the football club.
In 2022, Spotify founder, Daniel Ek, launched a high-profile takeover bid which was later abruptly turned down.
If the deal had been finalised between Dangote and the club, he would have been the first and only Nigerian businessman to own an English football club.
