Nigeria’s richest man, Aliko Dangote, has revealed why he ultimately decided against pursuing a takeover of his beloved club, Arsenal F.C..
A longtime supporter of the North London club since the 1980s, Dangote had previously expressed interest in investing in Arsenal. In 2011, he considered buying the 15.9% stake sold by Lady Nina Bracewell-Smith to majority shareholder Stan Kroenke for £123 million.
At the time, Dangote explained that he and other interested buyers felt the asking price was too high.
“We backtracked because we were very busy doing other things, especially our industrialisation,” he said in 2011.
Speaking recently in an interview with Nicolai Tangen, Dangote said his attention was focused on completing major business projects, including his refinery, fertiliser, and petrochemical ventures.
“I almost bought the club,” Dangote said. “But I had to choose between investing in Arsenal or completing the refinery and other projects.”
According to him, Arsenal was valued at around $2 billion at the time, and he decided it made more business sense to prioritise his industrial investments rather than risk slowing down his companies’ growth.
Despite stepping away from a potential deal, Dangote said he remains a passionate Arsenal supporter.
“I still watch the games, wear the scarf and shirt, and support the club as a fan,” he added.
Dangote also admitted that Arsenal’s current valuation makes a takeover far less attractive financially today. According to Forbes, Arsenal is now valued at approximately $3.4 billion, making it the eighth most valuable football club in the world.
Dangote Explains Why He Did Not Buy Arsenal F.C.
