Africa's richest man, Aliko Dangote, has disclosed why he ultimately gave up his long-standing ambition to purchase English Premier League club Arsenal. In an interview, the Nigerian billionaire stated that he chose to concentrate his financial resources on completing his refinery, fertilizer, and petrochemical projects rather than acquiring the North London club.
Dangote explained that at the time he was seriously considering the acquisition, Arsenal was valued at approximately $2 billion. However, he faced a critical decision: invest in the football club or ensure the completion of his massive industrial ventures in Nigeria.
Dangote's dilemma: Arsenal or refinery?
“When I was really very, very focused on buying Arsenal, then I was also facing the challenge of making sure the refinery gets its own completion, the fertiliser, the phytochemical,” Dangote said. He noted that the need for funds forced him to weigh the options carefully. “Will I go and put my $2 billion in Arsenal and now allow the business to suffer? Or should I now complete the business?”
Ultimately, Dangote decided that investing further into his business empire was the more prudent financial move. “So I decided that no, I'm going to continue to support them, watch their games, go there,” he stated. “And I am an Arsenal fan rather than now trying to…”
Dangote remains a loyal Arsenal supporter
The billionaire, who has repeatedly expressed his passion for Arsenal over the years, emphasized that he remains a devoted fan. He revealed that he regularly wears the club's jersey during matches, including one signed by the captain. “Even, you know, the t-shirt. Every day, any time that they are playing, I always wear the t-shirt,” he said.
Dangote also highlighted that Arsenal's value has surged significantly since he first considered the purchase. “I mean, today they are worth billions and it's not really worth my while at all,” he added.
Previous hints and current stance
In earlier interviews, Dangote had hinted that he might pursue the acquisition after completing the Dangote Refinery, now one of the world's largest single-train refineries. However, his latest comments suggest that the dream of owning Arsenal may no longer be feasible. The decision underscores his commitment to Nigeria's industrial development over personal sporting ambitions.
