One of the richest men in Africa, Aliko Dangote has opened up on his reason for not buying the North London premier league club Arsenal.
Alhaji Aliko Dangote, President and CEO of Dangote Group, has expressed his regret over missing the opportunity to purchase Arsenal, a club he once had a strong interest in owning revealing the reason behind his decision to not buy the club when he had the opportunity.
During an interview with Bloomberg's Francine Lacqua in New York, the billionaire businessman shared that he wished he had acquired the English football club when it was valued at around $2 billion and his reason for not selecting that option as at that time was because his focus was directed toward completing the Dangote refinery project at the time, which took priority.
Reflecting on the situation, Dangote stated, “I think the moment has passed. In our previous interview, I mentioned that once the refinery was finished, I would look into buying Arsenal. But, as you know, the prices have skyrocketed, and the club is now performing exceptionally well. Back then, Arsenal wasn’t in great form."
He further explained that with the current valuation of Arsenal around $4 billion, he no longer has the surplus liquidity to justify such an investment, especially as a promotional venture. Despite this, Dangote emphasized his unwavering support for the club, saying, “I will always be Arsenal’s biggest fan. I watch their matches whenever they play, but at this point, buying the club doesn’t seem practical.”
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When asked if he regretted not purchasing Arsenal earlier, Dangote admitted, “Yes, I do regret not buying it sooner. But, at that time, my resources were more crucial for completing the refinery project. Had I spent $2 billion on Arsenal, I wouldn’t have been able to finish the project. So, it was a choice between completing my project or acquiring Arsenal.”
Dangote had previously indicated in 2020 that he would pursue the North London club once his refinery project was finalized.
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