Nigerian billionaire and Africa’s richest man, Aliko Dangote, has expressed regret over his missed opportunity to purchase English football club Arsenal FC when the club was valued at a much lower price.
Dangote, the President and CEO of Dangote Group, revealed that he had considered buying the London-based club when it was valued at approximately $2 billion but was unable to pursue it due to financial commitments tied to his refinery project.
Aliko Dangote Speaks about Missed Opportunity Due to Refinery Project
During an interview with Bloomberg’s Francine Lacqua in New York, Dangote explained that while he was keen on buying Arsenal, his focus at the time was on completing his refinery project, which required significant financial investment. His decision to prioritize the project ultimately meant missing out on acquiring the football club at a time when its value was considerably lower than it is today.
Aliko Dangote ‘s Intentions in 2020 to Buy Arsenal FC
In 2020, Dangote had publicly announced his intention to buy Arsenal after completing his refinery project, a move that excited many football fans, particularly in Nigeria and across Africa. At the time, Arsenal’s performance was less impressive, and the club’s valuation was significantly lower than the current $4 billion. However, Dangote’s ambitions were put on hold as he continued to focus on his business ventures.
Reflecting on the current situation, Dangote noted that Arsenal’s valuation has since skyrocketed, with the club performing exceptionally well on the field. He acknowledged that the opportunity to buy the club at a reasonable price has passed, making it financially impractical for him to pursue ownership at this point. “Arsenal is doing extremely well right now,” Dangote remarked, highlighting the club’s improvement in recent years, both in performance and valuation.
The billionaire went on to explain that he no longer has the “excess liquidity” required to make a $4 billion purchase of the club. “I don’t have that kind of excess liquidity to go and buy a club for $4 billion and use it as a promotional tool,” he said. Dangote emphasized that while he still holds a deep affection for Arsenal, purchasing the club now doesn’t make financial sense for him.
Aliko Dangote, Nigerian billionaire, Africa’s Richest Man and a Lifelong Arsenal Supporter
Despite missing the chance to become the owner of Arsenal, Dangote reaffirmed his dedication as a devoted fan of the North London team. He revealed that he continues to follow their games closely and will remain one of the club’s biggest supporters. “What I will do is continually be the biggest fan of Arsenal. I watch their games anytime they are playing,” Dangote said, underscoring his enduring passion for the team.
Remarks About Aliko Dangote over Regrets to Purchase Arsenal FC
When asked if he regretted not buying the club when its value was lower, Dangote candidly admitted that he did have some regret.
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.
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. He remarked.
Watch As Nigerian billionaire and Africa’s richest man Aliko Dangote Reveals his Regrets for Not Buying Arsenal FC
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