Dangote explained that his commitment to his refinery project ultimately led him to miss the opportunity to acquire the prestigious club.
Alhaji Aliko Dangote, the President and Chief Executive of Dangote Group, has voiced his regret over not purchasing English football club, Arsenal when he had the chance.
In an interview with Bloomberg’s Francine Lacqua in New York, the billionaire revealed his longing to own a football club and specifically mentioned the Gunners, which were valued at approximately $2 billion during his contemplation.
Dangote explained that his commitment to his refinery project ultimately led him to miss the opportunity to acquire the prestigious club.
“I think that time has passed,” he stated, reflecting on his past discussions about his aspirations in the world of football.
He reiterated his previous promise: “The last time when we had this interview, I told you as soon as I finished with the refinery, I was going to try and buy Arsenal.”
"Everything has increased in value, and Arsenal is performing exceptionally well right now, unlike when they were struggling before.
"I don't have the kind of surplus funds to purchase a club for $4 billion as a promotional venture. However, I will always be a dedicated fan of Arsenal.
"I make it a point to watch their games whenever they play, and I will continue to support them. Buying Arsenal doesn’t make sense for me at this time.
When asked if he regretted not buying Arsenal when its value was lower, he responded, "I do wish I had purchased it earlier, but at the time, my funds were better allocated to completing my refinery project than to buying Arsenal. I could have bought the club for $2 billion, but I wouldn’t have been able to finish my project. It was a choice between finishing my project and acquiring Arsenal."
In 2020, Dangote expressed interest in purchasing the North London club after completing his refinery project. Now, the richest man in Africa has set aside his ambition to take over at the Emirates Stadium.
He founded the Dangote Group, the largest conglomerate in West Africa, in 1981.
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