Alhaji Aliko Dangote, President and Chief Executive of Dangote Group, has shared his disappointment at not acquiring Arsenal Football Club when he had the chance.
Reflecting on his interest in owning a football club, Dangote lamented missing the opportunity to purchase the English side when it was valued at around $2 billion.
In an interview with Bloomberg’s Francine Lacqua in New York, the billionaire entrepreneur explained that his focus on the refinery project ultimately diverted his resources away from pursuing the club. “I think that time has passed. During our last discussion, I mentioned my intention to buy Arsenal once the refinery was complete. However, the club’s value has since soared, and Arsenal is performing exceptionally well now,” he stated.
Dangote acknowledged that Arsenal was not in the best shape when he initially considered the purchase, saying, “Back then, Arsenal wasn’t doing well. Now, they are thriving.” He added that the current valuation of approximately $4 billion is beyond his available liquidity for such an investment.
Despite stepping back from his ambitions to buy the club, Dangote emphasized his ongoing support for Arsenal. “I’ll always be their biggest fan and watch their games whenever they play,” he said, reiterating his commitment to the team.
When asked about his regrets regarding the missed opportunity, Dangote reflected, “I truly regret not making the purchase earlier, but my priority was to complete my refinery project. I could have bought the club for $2 billion, but that would have jeopardized my ability to finish my project. It was a choice between completing my refinery or acquiring Arsenal.”
In 2020, Dangote had publicly expressed his intention to pursue the North London club after finalizing his refinery project. However, with his focus now firmly on his business ventures, he has shifted his ambitions away from the Emirates Stadium.
Dangote founded the Dangote Group in 1981, which has grown to become the largest conglomerate in West Africa.
