Aliko Dangote Explains Why He Refused to Buy Arsenal
Africa's richest man, Aliko Dangote, has finally explained why he walked away from the opportunity to buy Premier League giants Arsenal despite being a lifelong supporter of the club. The Nigerian billionaire businessman revealed that he was forced to prioritise completing his massive industrial projects over purchasing the North London side.
Dangote Chose Refinery Over Arsenal
Speaking during an interview with Nicolai Tangen, CEO of Norges Bank Investment Management, on the In Good Company podcast, Dangote admitted he faced a difficult financial decision at the time. He said, 'Well, you know, I had to make a choice. When I was really very focused on buying Arsenal, I was also facing the challenge of making sure the refinery got to completion, alongside the fertiliser and petrochemical projects.'
The billionaire explained that Arsenal were worth around $2 billion at the time he strongly considered making a move for the club. According to him, he eventually decided that investing the money in his businesses was the wiser option. 'At that time, when I looked at everything, I said to myself, "Okay, fine, I have funding needs." Arsenal was worth about $2bn then. So I had to decide whether I should put my $2bn into Arsenal and allow the businesses to suffer, or complete the businesses first and continue to remain a very big supporter of Arsenal.'
The businessman added that he chose to remain a loyal fan instead of becoming the owner. 'I decided that I would continue to support them, watch their games, go there, and remain an Arsenal fan rather than buying the club.'
Arsenal Now Too Expensive
Dangote also admitted that the possibility of buying Arsenal has now effectively disappeared because the club's value has risen dramatically over the years. According to him, the investment no longer makes financial sense. 'Honestly, it is better for me to remain a fan and continue to fund my own businesses rather than buying the club. Today, Arsenal are worth billions, so it is not really worth it for me anymore.'
The comments appear to confirm earlier reports by Bloomberg suggesting the Nigerian billionaire had abandoned plans to pursue a takeover of the club. Dangote had been linked with Arsenal for more than 15 years and repeatedly expressed interest in purchasing the Premier League side.
Dangote Remains a Passionate Arsenal Fan
Although he never completed the takeover, Dangote insisted he remains a committed supporter of the club. The businessman revealed that he owns Arsenal merchandise and regularly watches matches wearing club apparel. 'Yes, I do. I even have the T-shirts. Any time they are playing, I always wear the T-shirt. I also have one that was signed by the captain. So, I am truly a fan.'
Dangote's passion for Arsenal dates back to the 1980s and has remained strong despite the club's long wait for Premier League success.
Arsenal Chasing Historic Title Triumph
Interestingly, Dangote's comments come at a crucial period for Arsenal under manager Mikel Arteta. Legit.ng previously reported that Arsenal remain favourites in their quest for a first Premier League title in 22 years despite growing pressure from Manchester City. City's recent victory over Crystal Palace reduced Arsenal's lead at the top of the table from five points to two with only two games remaining.
