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Nigerian billionaire Aliko Dangote expressed an interest in buying Premier League club Arsenal but opted to wait due to some reasons, a decision he has lived to regret.
In 2020, Nigerian billionaire Aliko Dangote expressed an interest in buying Premier League giants Arsenal.
The news got the attention of the world with many searching on the internet who was the African man looking to buy one of the world’s biggest clubs.
Dangote was Africa’s richest man at the time and five years later, his position at the top of the money table on the continent has not changed, with his net worth now at $23.9 billion, according to Forbes.
When & why did Aliko Dangote want to buy Arsenal?
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When Aliko Dangote wanted to buy Arsenal in 2020, the club was going through a rough patch in the early years of current coach Mikel Arteta and there was pressure on its American billionaire owner Stan Kroenke to sell as fans had been fed up with the little investment in the squad that had left legendary manager Arsene Wenger and his predecessors with a squad that could not compete even for the top four.
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However, Dangote set a condition for buying the club at the time. Arsenal, then valued at $2 billion, was seen as a luxury investment that could wait as he opted to put his money into the completion of his refinery project instead, before going all out for the Gunners.
But it proved not to be a sound decision from a man who rarely gets it wrong when it comes to investments.
Aliko Dangote lived to regret decision not to buy Arsenal
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As he admitted during an interview with Bloomberg in September 2024, Aliko Dangote regrets that he opted to wait to buy Arsenal rather than buying and waiting.
This is because the value of the club has now more than doubled and ‘out of reach’ for the president and CEO of the Dangote Group of companies.
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“I think that time has passed,” Aliko Dangote admitted to Bloomberg on his chances of buying Arsenal.
“The last time when we had this interview, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal. But you know everything has gone up and the club too is doing very well, Arsenal is doing extremely well right now. That time Arsenal wasn’t doing well.
“I think I don’t have that kind of excess liquidity to go and buy a club for $4 billion so to speak and use it as a promotional something.”
Aliko Dangote has watched as Arteta has turned around Arsenal’s fortunes, from a team that struggled to finish in the top four, to one that has been challenging for the Premier League title in the last three seasons.
Will Aliko Dangote try to buy Arsenal again?
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He is now left ruing his ‘poor’ investment decision even as he continues to support them from afar.
“But what I will do is to continually be the biggest fan of Arsenal. I watch their games anytime they are playing. So, I will remain a major supporter of Arsenal but I don’t think it makes sense today to buy Arsenal,” he added.
“Actually, I regret not buying it before but you know my money was more needed in completing my project (Dangote refinery) than buying Arsenal. I would have bought the club for $2 billion but you know I wouldn’t have been able to finish my project. So, it was either I finish my project or go and buy Arsenal.”
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As the Gunners prepare to face Real Madrid in the Champions League quarter-final on Tuesday April 8, it is Stan Kroenke who will be reaping the benefits and not Africa’s richest man Aliko Dangote.
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