Africa’s richest man, Aliko Dangote, has revealed why he abandoned his long-standing ambition of purchasing Arsenal, despite coming close to making a move for the club.
Dangote disclosed this during an interview with Nicolai Tangen, where he explained that he chose to focus his resources on completing the massive Dangote Refinery project instead.
‘I Nearly Bought Arsenal’
The billionaire businessman said Arsenal was valued at around $2 billion at the time he seriously considered acquiring the club.
According to him, he had to make a difficult decision between investing heavily in football ownership or concentrating on completing the refinery project, which later became one of Africa’s biggest industrial investments.
“I’m a big Arsenal fan, yes, I nearly bought the team,” Dangote said.
“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 2 million dollars in Arsenal and allow the business to suffer, or continue the business and continue to remain a very big supporter of Arsenal?”
Why He Chose Business Over Football
Dangote said he eventually decided that remaining a loyal supporter of Arsenal made more sense than taking over ownership of the North London club.
He added that his passion for the club remains strong, noting that he still follows their matches closely and proudly wears Arsenal jerseys whenever they play.
“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 said.
Arsenal Now Too Expensive
The billionaire also admitted that Arsenal’s current valuation has made any future takeover attempt less appealing financially.
According to him, the club’s market value has risen sharply over the years, changing the economics of any potential deal.
“And today they are worth billions, it is not worth the while,” he added.
Dangote has repeatedly expressed admiration for Arsenal over the years, with previous comments about his interest in owning the club generating attention among football fans and business observers alike.