Aliko Dangote, a billionaire from Nigeria feels sorry for passing up the chance to buy Arsenal at a time when the team was valued far less.
The president and chief executive officer of the Dangote Group, Dangote, stated that he wished he had bought the London club at the time of its estimated $2 billion valuation.
He stated that he was unable to make the investment because of his dedication to his refinery project in a New York interview with Bloomberg’s Francine Lacqua.
“I think that time has passed,” he stated. “Last time we spoke, I mentioned that as soon as I finish with the refinery, I would try to buy Arsenal. However, everything has increased in value since then, and Arsenal is performing exceptionally well right now. At that time, the club was not in a good place.”
Dangote admitted that he currently lacks the excess liquidity to invest $4 billion in a football club, stating, “I will continue to be Arsenal’s biggest fan. I watch their games whenever they play. However, I don’t think it makes sense for me to buy the club today.”
When asked if he regretted not investing when Arsenal was less valued, he acknowledged, “I actually regret not buying it earlier, but my financial resources were primarily needed to complete my project (the Dangote refinery). I could have purchased the club for $2 billion, but that would have hindered my ability to finish my refinery project. It was either completing that or buying Arsenal.”
Following the completion of the refinery, Dangote declared in 2020 that he intended to pursue ownership of the North London club. He established the Dangote Group in 1981 as the wealthiest individual in Africa, and it has since expanded to become the biggest conglomerate in West Africa.
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