‘Why I cannot buy Arsenal again’ – Nigerian billionaire Aliko Dangote reveals

Nigerian billionaire and Africa’s richest man, Aliko Dangote, has officially halted his long-standing plans to buy Premier League club Arsenal.

The CEO of the Dangote Group recently revealed his decision in an interview with Bloomberg, citing the club’s growing valuation and his current business commitments as reasons for stepping away from the idea.

Dangote, a passionate Arsenal supporter, had previously expressed a desire to acquire the North London club once his refinery project in Nigeria was completed. However, the businessman now acknowledges that Arsenal’s valuation—approximately $2.6 billion—has made the dream unattainable, compared to its previous $2 billion price tag.

“I think that time has passed,” Dangote remarked, acknowledging the club’s improved financial position and recent success. He pointed to his focus on completing his refinery project as a primary reason for not pursuing the purchase when Arsenal’s valuation was lower.

When asked if he regretted not buying Arsenal earlier, Dangote admitted that he does, but he emphasized that his resources were needed for his refinery project. “I would have bought the club for $2 billion, but you know I wouldn’t have been able to finish my project,” he explained. “It was either I finish my project or go and buy Arsenal.”

Despite his passion for the Gunners, Dangote noted that purchasing the club now, with its estimated $4 billion price tag, would not be a financially prudent decision for him. “I don’t think it makes sense today to buy Arsenal,” he added, stressing the priority of his business ventures.

Arsenal, owned by American billionaire Stan Kroenke, has seen a boost in both on-field success and financial stature in recent years. The club’s recent back-to-back second-place finishes in the Premier League have significantly increased their revenue, now reported