Aliko Dangote regrets missing opportunity to buy Arsenal

Africa’s richest man, Aliko Dangote, has expressed regret over not seizing the opportunity to purchase Arsenal Football Club when the chance was within reach.

In a recent interview with Bloomberg's Francine Lacqua in New York, Dangote shared his earlier interest in acquiring the North London football giant, which was valued at around $2 billion at the time.

However, the president and CEO of Dangote Group explained that his focus on completing a major refinery project ultimately took precedence.

Reflecting on the missed opportunity, Dangote acknowledged, "I think that time has passed." He had previously indicated his intent to buy Arsenal once his refinery was complete, saying, "The last time when we had this interview, I told you as soon as I finished with the refinery, I was going to try and buy Arsenal."

Despite his ambition, Arsenal's value has since risen significantly, and the club's strong recent performances make the acquisition less feasible now.

Dangote noted, "Everything has increased in value, and Arsenal is performing exceptionally well right now, unlike when they were struggling before."

He went on to explain that with the current $4 billion price tag, purchasing Arsenal would not make financial sense for him. "I don’t have the kind of surplus funds to purchase a club for $4 billion as a promotional venture," he admitted.

Looking back, Dangote expressed some regret over the decision. "I do wish I had purchased it earlier, but at the time, my funds were better allocated to completing my refinery project than to buying Arsenal.

I could have bought the club for $2 billion, but I wouldn’t have been able to finish my project. It was a choice between finishing my project and acquiring Arsenal."

Having founded the Dangote Group in 1981, the business magnate has since shifted his focus away from acquiring the football club, channeling his efforts into his business ventures.

However, Dangote remains a loyal Arsenal fan, continuing to support the team from afar and following their matches with enthusiasm.