Aliko Dangote, the President and Chief Executive of Dangote Group, has expressed regret over not pursuing his ambition to purchase Arsenal Football Club, revealing that his business priorities at the time led him to invest in his refinery project instead.
In an interview with Bloomberg’s Francine Lacqua in New York, Dangote, one of Africa’s wealthiest individuals, reflected on missing the opportunity to acquire the English football club when it was valued at approximately $2 billion.
“I think that time has passed,” Dangote stated. “The last time we had this interview, I mentioned that once I completed the refinery, I would attempt to buy Arsenal. But everything has gone up—including the club’s value—and Arsenal is performing exceptionally well now. Back then, they weren’t doing so great.”
He explained that the club’s current valuation, estimated at around $4 billion, makes it impractical for him to proceed with the purchase. “I don’t have that kind of excess liquidity to spend $4 billion just for promotional purposes. But I will always be Arsenal’s biggest fan and continue to support them. It just doesn’t make sense to buy the club today,” he added.
When asked whether he regretted not buying Arsenal when its value was lower, Dangote admitted, “Yes, I do regret not buying it earlier. But my finances were more committed to completing my refinery project. At the time, it was either I finish the project or buy Arsenal. I couldn’t do both.”
In 2020, Dangote publicly expressed his interest in acquiring Arsenal following the completion of his refinery project, which is the largest in Africa. However, he has now put aside any plans to take over the North London club.
Dangote founded the Dangote Group in 1981, which has grown into the largest conglomerate in West Africa, with interests spanning various sectors including cement, sugar, and oil.
