Aliko Dangote, Africa’s richest man, has admitted that his long-held ambition to buy Arsenal Football Club is no longer realistic due to economic changes and the increased valuation of the club.
Speaking with Bloomberg’s Francine Lacqua during an interview in New York, Dangote reflected on how circumstances have evolved, making his dream of owning the Premier League team much less feasible.
Dangote, who had previously shared plans to purchase the club after completing his multi-billion-dollar refinery project in Nigeria, explained that rising costs and the club’s improved performance have altered the landscape. “The last time we spoke, I said I would go after Arsenal as soon as the refinery was finished. But now, the situation has changed—everything has gone up. The club is also doing very well now, unlike before,” he said.
Back when Arsenal was struggling, Dangote revealed he could have acquired the club for around $2 billion, but completing his refinery took priority. “I had the chance to buy it for $2 billion, but that would have delayed or derailed my refinery project. I had to choose between finishing that or purchasing Arsenal,” he explained.
Today, Arsenal’s valuation is estimated at over $4 billion, which makes acquiring the club far less practical for the Nigerian billionaire. Dangote emphasized that he now has other priorities and cannot allocate the necessary funds for such a high-profile investment. “The price of the club has risen to $4 billion, and I simply don’t have the liquidity for that kind of purchase. It just doesn’t make financial sense right now,” he said, noting that his focus remains on ventures that create broader economic impact.
Despite his decision not to pursue ownership, Dangote remains a passionate supporter of Arsenal. “I am still a huge Arsenal fan. I watch their games regularly and will always be one of the club’s biggest supporters. But owning the club doesn’t make sense at this point,” he said.
Dangote also reflected on his decision to prioritize the refinery project, emphasizing that it was the right call. The massive refinery, located in Nigeria, has the capacity to refine 650,000 barrels per day—equivalent to around 1.1% of the world’s refining capacity. “Choosing the refinery over Arsenal was the right decision. This project will have a lasting and significant impact on Nigeria’s economy and the global energy market,” he said.
Watch the video below;
https://x.com/instablog9ja/status/1838354814113132883?t=UnCio633knhhD0uwc5RqpA&s=19
While Dangote’s dream of owning Arsenal may have passed, his business legacy continues to grow, anchored by the successful completion of his refinery.
