Africa’s wealthiest man, Aliko Dangote, has finally revealed why he chose not to acquire English football giants, Arsenal, after years of speculation. For a long time, there were strong rumors that the Nigerian billionaire was preparing to purchase the North London club for $2 billion. But as time passed, the talks faded, leaving many fans curious about what had happened.
In a recent interview with Bloomberg’s Francine Lacqua, Dangote, Chairman of Dangote Group, reflected on his decision not to go through with the purchase. While expressing some regret, he provided insight into the reasoning behind his choice. Despite this, Dangote remains a loyal supporter of the three-time Premier League champions.
“I think that time has passed,” Dangote admitted. “I once said that after completing my refinery project, I would attempt to buy Arsenal. But everything has changed—the clubs are doing well, and Arsenal, in particular, are performing exceptionally now. Back then, they weren’t doing as well.”
He explained that the cost of football clubs has skyrocketed in recent years, making it an unwise investment for him at this point.
“I don’t have the extra liquidity to buy a club for $4 billion just for the sake of promotion,” Dangote continued. “I’d rather invest that money elsewhere. That said, I will always remain Arsenal’s biggest fan and watch their games regularly. But buying the club now just doesn’t make financial sense.”
The Nigerian mogul also expressed some regret over missing the chance to purchase Arsenal when they were less successful. “I do regret not buying Arsenal earlier. I could have gotten it for $2 billion, but my priority then was finishing my ongoing projects.”
Under the management of Mikel Arteta, Arsenal has since seen a major revival, currently competing in the UEFA Champions League and sitting near the top of the Premier League standings—a far cry from the struggling side Dangote once had his eye on.
