Dangote: Why I didn’t buy Arsenal for $2bn

The President of Dangote Group, Aliko Dangote, says he no longer has excess liquidity to buy Premier League club Arsenal.

Arsenal became title challengers in the last two seasons, finishing as runners-up to Manchester City.

Last season, the Gunners set numerous club records including most Premier League wins (28), most Premier League goals (91), and the club’s highest-ever overall win rate (67.3%) for any season in the Gunners’ history.

Arsenal also qualified for the second successive season in Champions League after a seven-year absence.

Speaking in an interview with Bloomberg in New York, United States, on Monday, September 23, 2024, Dangote said he regretted not buying Arsenal when the club was valued at $2 billion.

The Africa’s second-richest person added that he missed out on buying Arsenal by committing his resources to the refinery project.

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Dangote said: “I think that time has passed. 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.

“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.

“Actually, I regret not buying it (Arsenal) 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.”

The Star