Billionaire businessman and Chairman of Dangote Group, Aliko Dangote, has revealed why he no longer intends to buy Arsenal Football Club, a goal he once passionately pursued.
Speaking in an interview with Bloomberg’s Francine Lacqua in New York, Dangote admitted that the window of opportunity for acquiring the Premier League club has passed.
“I think that time has passed,” Dangote stated. “The last time we had this interview, I told you that I would try and buy Arsenal once I finished with the refinery. But now, everything has gone up. The clubs are all doing well, and Arsenal is doing extremely well. Back then, they were not doing very well.”
The businessman explained that Arsenal’s valuation has soared beyond what he considers a sensible investment at this point, with the club now estimated to be worth around $4 billion.
“I don’t have that kind of excess liquidity to buy a club for $4 billion just for promotional purposes,” he said. “I would rather use the money for something else.”
Despite his decision, Dangote remains an enthusiastic supporter of Arsenal and continues to follow the club closely. “
I will continue to be the biggest fan of Arsenal. I watch their games all the time and will remain a major supporter, but buying the club doesn’t make sense today,” he noted.
Dangote expressed some regret over not purchasing Arsenal when the opportunity presented itself earlier. “I regret not buying Arsenal before, but at the time, my money was more needed to complete my project than to buy the club. I would have bought it for $2 billion,” he reflected.
Although his plans to own Arsenal have been shelved, Dangote’s love for the club remains unchanged, as he continues to cheer for the team from the sidelines.
