Alex Omenye
President and CEO of Dangote Group, Aliko Dangote has expressed regret over missing the opportunity to purchase Arsenal Football Club.
The billionaire, who had long shown interest in owning the North London team, revealed in a recent interview with Bloomberg’s Francine Lacqua in New York that he once considered buying the club when it was valued at around $2 billion.
Dangote explained that his decision to focus on completing his massive refinery project took priority over acquiring the football club, a choice that ultimately cost him the chance to become Arsenal’s owner. “I think that time has passed,” he said. “The last time we had this interview, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal.”
Since then, Arsenal’s value has surged, now estimated at $4 billion, making it a far more expensive investment. Dangote acknowledged that the club’s improved performance and the rising price tag have made it financially unfeasible for him to pursue ownership.
Reflecting on the missed chance, Dangote noted, “Everything has gone up, and the club too is doing very well. That time, Arsenal wasn’t doing well.” He candidly admitted that he no longer has the liquidity needed to acquire the club, saying, “I don’t have that kind of excess liquidity to go and buy a club for $4 billion and use it as a promotional tool.”
Despite shelving his plans to take over Arsenal, Dangote remains a devoted fan. “I will remain a major supporter of Arsenal, but I don’t think it makes sense today to buy the club,” he stated.
When asked if he regretted not making the purchase earlier, Dangote admitted, “Yes, I regret not buying it before. But my money was more needed to complete my project than to buy Arsenal. I would have bought the club for $2 billion, but I wouldn’t have been able to finish my refinery.”
Dangote, whose Dangote Group is the largest conglomerate in West Africa, had previously signaled strong intentions to buy Arsenal once his refinery was completed. However, his recent comments suggest a shift in priorities, as he now sees more value in expanding his business empire.
Despite missing out on ownership, Dangote remains one of Arsenal’s most prominent African supporters, continuing to follow the club’s progress and cheer them on from afar.
