Africa’s richest man and President of Dangote Group, Alhaji Aliko Dangote, has expressed regret over missing the opportunity to buy Arsenal Football Club when it was valued at around $2 billion.
In an interview with Bloomberg’s Francine Lacqua in New York, Dangote explained that his initial interest in owning the English football club was sidelined by his commitment to completing the Dangote Refinery project, which took precedence over acquiring the team.
Dangote said, “I think that time has passed. The last time we had this interview, I told you as soon as I finish with the refinery, I would try and buy Arsenal. But I don’t have that kind of excess liquidity now to buy a club for $4 billion just for promotional reasons.”
Though no longer pursuing ownership, Dangote reaffirmed his passion for the North London club, saying, “I will remain a major supporter of Arsenal. I watch their games anytime they are playing, but I don’t think it makes sense today to buy the club.”
When asked if he regretted not purchasing Arsenal when its value was lower, Dangote admitted, “Yes, I regret not buying it before, but my money was more needed in completing my refinery project than 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.”
Dangote had previously expressed interest in purchasing Arsenal in 2020 after completing the refinery. However, he has since set aside his ambitions of taking over the football club, focusing instead on his conglomerate, Dangote Group, which he founded in 1981 and has grown into the largest conglomerate in West Africa.
