Why Aliko Dangote decided not to buy Arsenal

Africa’s richest man, Aliko Dangote, has explained why he decided against buying Arsenal despite years of interest in the Premier League club.

Dangote, who has supported Arsenal since the 1980s, had been linked with a takeover move for more than 10 years. His interest first became public in 2011 when he considered buying a 15.9 per cent stake in the club before it was eventually sold to American businessman Stan Kroenke.

At the time, Dangote believed the club’s valuation was too expensive and chose to step away from the deal.

Speaking in a recent interview shared by Soccernet, the Nigerian billionaire said his attention was focused on completing his major business projects, including the Lagos refinery, fertiliser plant and petrochemical company.

“I almost bought the club,” Dangote said. “But at that period, I was also handling the refinery, fertiliser and petrochemical projects.”

He explained that he had to choose between investing heavily in Arsenal or continuing to fund his industrial businesses.

“Arsenal was worth about two billion dollars then. I had to decide whether to put my money into the club or continue building my businesses,” he said.

Dangote added that he eventually decided to remain a loyal supporter instead of becoming the club owner.

“I still support Arsenal, watch their games and wear their shirt and scarf whenever they play,” he added.

The billionaire also admitted that he no longer has plans to buy the North London club because of its current value.

“It is better for me to remain a fan and continue growing my business. Today, the club is worth billions and it is no longer worth it for me,” he said.

According to Forbes, Arsenal is now valued at about $3.4 billion, making them the eighth most valuable football club in the world. Stan Kroenke remains the majority owner of the club.