Aliko Dangote, Africa’s richest man and chairman of Dangote Group, has expressed his regret for not purchasing Premier League club Arsenal when he had the chance. Once valued at around $2 billion, Arsenal’s current worth has skyrocketed to approximately $4 billion, making the prospect of ownership seem increasingly unattainable for the billionaire.
Dangote’s interest in acquiring Arsenal dates back to 2020, when he publicly announced his intentions to buy the club after completing his ambitious $20 billion refinery project in Nigeria. At that time, Arsenal was struggling both on and off the pitch, which made the prospect of acquisition more appealing. However, as Dangote focused on his refinery an endeavor that many skeptics doubted would come to fruition he ultimately decided against pursuing the football club.
Reflecting on his decision, Dangote stated, “I regret not buying Arsenal before. But my money was needed in completing my projects rather than buying Arsenal. I would have bought it for $2 billion, but I wouldn’t have been able to finish my project.” He emphasized that choosing between investing in a football club and completing a major business project was a difficult but necessary decision.
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As he discussed his missed opportunity, Dangote acknowledged that the landscape of football club valuations has changed dramatically since he first considered buying Arsenal. “Everything has gone up. The clubs are all doing well. Arsenal is doing extremely well now,” he remarked. This shift in fortune for the Gunners has made the idea of ownership less financially viable for him at this stage in his career.
Currently owned by American billionaire Stan Kroenke, who took full control of the club in 2018 after a long battle with Russian oligarch Alisher Usmanov, Arsenal has seen significant improvements in both its financial standing and performance on the field. Under Kroenke’s ownership, the club has achieved back-to-back second-place finishes in the Premier League and continues to compete at high levels in European competitions.
Despite stepping back from his ambitions to own Arsenal, Dangote remains a passionate supporter of the club. “What I’ll do is continue to be the biggest fan of Arsenal. I watch their games every time,” he affirmed. His dedication to the team remains strong, even as he acknowledges that investing in such a high-value asset is no longer practical.
As Dangote continues to focus on his business ventures and complete his refinery project, he reflects on what could have been a missed opportunity that serves as a poignant reminder of how quickly circumstances can change in both business and sports. While his dream of owning one of England’s most storied clubs may have faded, his unwavering support for Arsenal endures as he cheers them on from afar.
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