Africa and Nigeria’s richest man, Aliko Dangote, has finally revealed why he chose not to buy English Premier League Club, Arsenal, ending years of speculation.
For a long time, rumors circulated that the Nigerian billionaire was poised to buy the North London club for $2 billion. However, the talks eventually died down, leaving many to wonder what had changed.
In an interview with Bloomberg’s Francine Lacqua, the Chairman of Dangote Group reflected on the missed opportunity, expressing both regret and the reasoning behind his decision to step back. Despite this, Dangote remains a passionate supporter of the three-time Premier League champions.
“I think that time has passed,” Dangote explained. “The last time we spoke, I mentioned that once I completed the refinery, I would consider buying Arsenal. But now, everything has increased in value, and the clubs are doing extremely well. Arsenal, in particular, are performing much better compared to when I first considered buying them.”
Dangote noted that the soaring price of football clubs made it unfeasible for him to invest in one at its current valuation. “I don’t have the excess liquidity required to purchase a club for $4 billion just for promotional purposes,” he said. “I would rather put that money to better use. I will continue to be Arsenal’s biggest fan, watching all their games. But I don’t believe it makes sense today to buy the club.”
He added, “I regret not buying Arsenal earlier, but at that time, my funds were more needed for completing my other projects. I could have bought the club for $2 billion back then.”
Under Spanish manager, Mikel Arteta, Arsenal has experienced a resurgence in recent years. They are currently competing in the UEFA Champions League and are near the top of the Premier League table—a stark contrast to the struggling team Dangote once considered acquiring.
