Africa’s richest man, Aliko Dangote, has finally disclosed why he decided not to purchase Premier League giants Arsenal, putting an end to years of speculation, Soccernet.ng reports.
For a long time, rumours swirled that the Nigerian billionaire was set to buy the North London club for $2 billion. However, the talks eventually faded into silence, which left many to wonder what had happened.
In an interview with Bloomberg’s Francine Lacqua, the Chairman of Dangote Group reflected on the missed opportunity, expressed his regret but also explaining his decision not to proceed with the acquisition. Despite this, Dangote remains a dedicated fan of the three-time Premier League champions.
“I think that time has passed. The last time we spoke, I told you that once I finished with the refinery, I would try to buy Arsenal,” Dangote shared. “But the issue is that everything has gone up. The clubs are all doing well. Arsenal are doing extremely well now. At that time they were not doing very well.”
Dangote explained that the price tag on football clubs has soared dramatically, making it impractical for him to invest in a football team at the current valuation.
“I don’t have the kind of excess liquidity needed to buy a club for $4 billion just for promotional purposes. I would rather do something with the money. What I’ll do, I will continue to be the biggest fan of Arsenal. I watch their games everytime. I will remain a major supporter of Arsenal but I don’t think it makes sense today to buy Arsenal.”
He added, “I regret not buying Arsenal before, but my money was more needed in completing my projects at the time. I could have bought it for $2 billion back then.”
Under the leadership of Spanish manager Mikel Arteta, Arsenal has seen a resurgence in recent years, currently competing in the UEFA Champions League and sitting near the top of the Premier League table—a far cry from the struggling team Dangote once considered purchasing.
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