Alhaji Aliko Dangote, a name synonymous with wealth and business success in Africa, recently opened up about a decision that still weighs heavily on his mind. In a candid interview, the billionaire revealed his regret over not seizing the opportunity to buy Arsenal Football Club when he had the chance.
As Arsenal’s value skyrocketed from $2 billion to an estimated $4 billion, Dangote reflects on how his focus on building a massive refinery project led him to prioritize his investments differently. Despite the missed opportunity, his passion for the club remains unwavering, showcasing the deep connection fans can have with their teams.
A Missed Opportunity
Alhaji Aliko Dangote, the President and CEO of Dangote Group and Africa’s richest man, has expressed his regret about not purchasing Arsenal Football Club when he had the chance. He revealed that he had to pass on the deal to focus on completing his massive refinery project.
The Rising Value of Arsenal
In an interview with Bloomberg’s Francine Lacqua in New York, Dangote explained that when he first considered buying Arsenal, the club was valued at around $2 billion. However, as time went on, his financial priorities shifted toward the refinery project, which he deemed more important.
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A Shift in Focus
“I think that time has passed. The last time we spoke, 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. At that time, Arsenal wasn’t performing well,” Dangote said.
Now, he acknowledges that Arsenal’s current value is estimated at around $4 billion, putting it out of reach for him.
Financial Realities
“I don’t have that kind of excess liquidity to go and buy a club for $4 billion and use it as a promotional something,” he admitted. Despite missing this opportunity, Dangote continues to be a devoted Arsenal fan. He stated, “I will remain a major supporter of Arsenal, but I don’t think it makes sense today to buy the club.”
Looking Back
Reflecting on his decision, he shared, “I regret not buying Arsenal earlier, but my money was more needed in completing my refinery project.”
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