Aliko Dangote, Africa’s wealthiest man, has announced he will not purchase Arsenal for $4 billion, citing financial impracticality. In a Bloomberg interview, he emphasized his commitment to completing his $20 billion refinery project over acquiring the football club, expressing continued loyalty as a fan of Arsenal.
Aliko Dangote, Africa’s richest man, has recently clarified why he no longer intends to purchase Arsenal Football Club, which is valued at approximately $4 billion. In an interview with Bloomberg TV in New York, he noted that the opportunity to acquire the club has passed. Dangote explained that the financial requirements are now too steep, and he lacks the surplus liquidity to justify such an expenditure purely for promotional reasons.
Dangote expressed his continued passion for Arsenal, stating he remains one of their biggest supporters and watches their matches regularly. However, he acknowledged that buying the club no longer makes economic sense. “I think that time has passed... Arsenal is doing very well now,” he remarked, contrasting it with the club's previous struggles.
The billionaire entrepreneur revealed that he had to choose between completing his $20 billion Dangote refinery project or pursuing the football club. Ultimately, he decided that finishing the refinery—a project seen by many as ambitious—was the best investment of his resources. Reflecting on his earlier interest in acquiring Arsenal for $2 billion, he admitted some regret but reaffirmed that prioritizing his business was the right decision.
