Nigeria – Dangote Expresses Regret Over Not Buying Arsenal During $2 Billion Window

By Onoja Baba, Nigeria

President and Chief Executive Officer (CEO) of the Dangote Group, Alhaji Aliko Dangote, has revealed his regret over missing the opportunity to purchase English football club Arsenal when it was valued at around $2 billion.

Speaking in a recent interview with Bloomberg’s Francine Lacqua in New York, the Nigerian billionaire explained that his focus on completing his landmark refinery project took precedence over his ambition to own the football giant.

“I think that time has passed,” Dangote admitted. “The last time we spoke, I said once I finished with the refinery, I would try to buy Arsenal. But now everything has increased in value, and Arsenal is doing extremely well.”

He acknowledged the current $4 billion valuation of the club and noted that he no longer has the excess liquidity to pursue the purchase. Despite this, Dangote remains a devoted fan of the North London team, saying, “I will remain a major supporter of Arsenal, but I don’t think it makes sense today to buy the club.”

When asked if he regrets not acquiring the team when its price tag was lower, Dangote reflected, “I do regret it, but my resources were more needed in completing my refinery project. It was either I finish my project or buy Arsenal.”

In 2020, Dangote expressed interest in purchasing the football club after the completion of his refinery project, but now that ambition has been laid to rest.

The billionaire founded the Dangote Group in 1981, building it into the largest conglomerate in West Africa.