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Aliko Dangote, the Chairman of Dangote Group, has voiced his remorse for his decision to pass on the opportunity to purchase Premier League club Arsenal for $2 billion.
Speaking in a recent interview on Bloomberg TV in New York, the billionaire recognized that the “time has passed” for him to purchase Arsenal, mentioning that the club’s valuation has now reached nearly $4 billion.
In 2020, Dangote made public his intention to acquire the North London club, contingent upon the successful completion of his refinery project.
In September 2024, Dangote’s estimated net worth stands at $13.4 billion, placing him as the second-richest person on the African continent.
He explained, however, that he does not have the available liquidity to warrant a $4 billion purchase of Arsenal.
“I think that time has passed,” Dangote said. “The last time we had this interview, I told you that, yes, as soon as I finished with the refinery, I was going to try and buy Arsenal. But the issue is that everything has gone up. The clubs are all doing well, and Arsenal is doing extremely well now. At that time [when I wanted to buy], they were not doing very well.”
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He emphasised that investing in his refinery project was the right decision at the time. “I regret not buying Arsenal before. But my money was needed to complete 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, however, said he remained a devoted Arsenal supporter. “I’ll continue to be the biggest fan of Arsenal. I watch their games every time and will remain a major supporter, but I don’t think it makes sense today to buy Arsenal.”
Reflecting on his decision, Dangote added, “Actually, I regret not buying Arsenal before, but completing my project was the right move.”
