I Regret Not Buying Arsenal When I Had the Chance – Dangote
By Trek Africa Newspaper
Alhaji Aliko Dangote, President and CEO of the Dangote Group, has expressed regret over not purchasing Arsenal Football Club when he had the chance.
Dangote revealed that he had considered buying the English club when it was valued at around $2 billion.
In an interview with Bloomberg’s Francine Lacqua in New York, the billionaire businessman explained that his decision to prioritize his refinery project caused him to miss the opportunity.
“I think that time has passed. The last time we spoke, I said that once the refinery was completed, I would try to buy Arsenal. But now everything, including the club, has gone up in value. Arsenal is doing very well today, but back then, they were not performing as well,” Dangote said.
He added, “I don’t have the kind of excess liquidity to spend $4 billion on a football club now, especially just for promotional purposes. Instead, I’ll continue being a loyal fan of Arsenal. I watch all their games and will remain a major supporter, but buying the club no longer makes financial sense.”
When asked if he regretted not buying Arsenal when its value was lower, Dangote admitted, “I do regret it, but my money was more urgently needed for the completion of my refinery project. I could have purchased Arsenal for $2 billion, but I wouldn’t have been able to finish the refinery. It was a choice between the two.”
In 2020, Dangote had expressed his intention to acquire the North London club once his refinery project was completed. Now, the African billionaire, who founded the Dangote Group in 1981 — the largest conglomerate in West Africa — has set aside his ambitions to take over at Emirates Stadium.
