Africa’s richest man and President of the Dangote Group, Aliko Dangote, has opened up on why he abandoned his long-held ambition of purchasing English Premier League giants Arsenal F.C..
Speaking in an interview with Nicolai Tangen, Dangote revealed that he came close to acquiring the North London club when its valuation stood at around $2 billion. However, he ultimately chose to channel his resources and attention into completing the massive Dangote Refinery project.
“I’m a big Arsenal fan, yes, I nearly bought the team,” Dangote said during the interview.
The billionaire businessman explained that at the time, he was faced with a major decision — whether to invest heavily in acquiring Arsenal or remain focused on delivering what has become one of Africa’s largest industrial projects.
“When I was focused on buying Arsenal, I was also focused on the refinery getting to its completion. At the time, Arsenal was worth about 2 billion dollars, so I asked myself: should I put my money in Arsenal and allow the business to suffer, or continue the business and continue to remain a very big supporter of Arsenal?” he stated.
Dangote noted that he preferred to remain a devoted supporter of the club rather than risk slowing down the growth of his business empire.
“So I decided to continue to support them, watch their games. Any time Arsenal plays, I always wear the jersey. I am a fan, it is better I remain as a fan and continue to fund my business,” he added.
The industrialist further explained that Arsenal’s market value has risen sharply over the years, making the idea of a takeover less attractive from a financial perspective.
“And today they are worth billions, it is not worth the while,” Dangote said.
Over the years, Dangote has consistently spoken about his admiration for Arsenal, often describing himself as one of the club’s most passionate supporters in Africa.