Nigerian billionaire Aliko Dangote expressed regret over missing the chance to purchase Arsenal when the club was valued at around $2 billion.
In an interview with Bloomberg’s Francine Lacqua in New York, Dangote shared that his focus on funding his refinery project prevented him from seizing the opportunity to invest in the London-based football club at the time.
He now reflects on the decision as a missed opportunity, given the rise in Arsenal’s value since then.
He 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 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.’
When asked if he regretted not buying when Arsenal’s value was lower, he said, “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.”
In 2020, Aliko Dangote revealed his ambition to acquire Arsenal Football Club once his refinery project was complete. As West Africa’s largest business mogul, he established the Dangote Group in 1981, building it into a regional powerhouse.
Renowned as the wealthiest individual in Africa, Dangote has long expressed interest in owning the North London club, which has grown in value over the years.