Alhaji Aliko Dangote, President and Chief Executive of Dangote Group, has expressed regret over not purchasing Arsenal Football Club when its value was significantly lower.
Speaking during an interview with Bloomberg’s Francine Lacqua in New York, Dangote revealed that he once had ambitions to acquire the North London club, but his focus on completing the Dangote Refinery project took priority.
“I think that time has passed,” Dangote said, reflecting on the missed opportunity. “The last time when we had this interview, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal. But you know, everything has gone up, and the club too is doing very well. That time Arsenal wasn’t doing well.”
Dangote, who had previously expressed interest in purchasing Arsenal when it was valued at around $2 billion, now acknowledges that the club’s current valuation, reportedly around $4 billion, makes such a move impractical.
“I don’t have that kind of excess liquidity to go and buy a club for $4 billion, so to speak, and use it as a promotional something,” he explained.
“But what I will do is to continually be the biggest fan of Arsenal. I watch their games anytime they are playing. So, I will remain a major supporter of Arsenal, but I don’t think it makes sense today to buy Arsenal.”
When asked if he regretted not acting sooner, Dangote admitted, “Actually, I regret not buying it before, but you know my money was more needed in completing my project (Dangote Refinery) than buying Arsenal. I would have bought the club for $2 billion, but I wouldn’t have been able to finish my project.”
Dangote, who had expressed interest in acquiring the football club as recently as 2020, has now set aside his ambition to own Arsenal, opting instead to remain one of its most devoted fans.
The Dangote Group, which he founded in 1981, has since grown into the largest conglomerate in West Africa.
