Aliko Dangote, chairman of the Dangote Group, has expressed sorrow over his choice not to buy Premier League team Arsenal for $2 billion.
In a recent interview with Bloomberg TV in New York, the billionaire said that the “time has passed” for him to acquire Arsenal, estimating that the club is now worth around $4 billion.
Dangote declared in 2020 that he would buy the North London club after his refinery project was complete.
Dangote is Africa’s second richest person as of September 2024, with an estimated net worth of $13.4 billion.
He did, however, explain that he no longer had the resources to justify investing $4 billion on 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.”
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.”
