Africa’s billionaire, Dangote cries broke over fading Arsenal’s purchase dream

By Monsurah Olatunji 

Africa’s richest man and CEO of the Dangote Group, Aliko Dangote, has officially announced that he will not pursue his plans to buy Premier League club Arsenal, choosing instead to continue supporting the Gunners from the sidelines.

In 2020, Dangote expressed interest in acquiring the North London club after completing his refinery project.

However, he has now stepped back from this ambition, acknowledging the significant rise in Arsenal’s valuation from approximately $2 billion to around $4.6 billion.

In a candid interview with Bloomberg, Dangote reflected on his missed opportunity to purchase one of England’s wealthiest clubs, stating, “I think that time has passed.

“The last time we spoke, I mentioned that I would try to buy Arsenal once my refinery was completed. But the situation has changed, and the club is doing extremely well now.”

He noted that he no longer has the excess liquidity required for such an investment, explaining, “I regret not buying it before, but I needed to focus my resources on completing my refinery project. Buying Arsenal for $2 billion would have jeopardized that goal.”

Despite halting his pursuit, Dangote remains a passionate fan, committing to watch every Arsenal match.

“I will always be a major supporter of Arsenal,” he affirmed.