Sports
Aliko Dangote regrets missing opportunity to buy Arsenal FC
Nigerian business mogul and oil magnate Aliko Dangote has opened up about his regret over not purchasing Arsenal Football Club two years ago.
In a recent interview, Dangote revealed that he had been seriously considering acquiring the London-based Premier League club when it was valued at $2 billion. However, his focus on completing his ambitious refinery project ultimately took precedence, forcing him to put his dream of owning the club on hold.
Dangote, a long-time fan of Arsenal, disclosed that the timing of the potential acquisition clashed with the completion of his $19 billion Dangote Refinery, which is currently the largest single-train refinery in the world. “At that time, I was so focused on finishing the refinery. It was a priority because of its scale and significance for Nigeria and Africa as a whole,” he explained. The decision, while practical at the time, now weighs heavily on him as Arsenal’s valuation has doubled in just two years.
The 67-year-old billionaire expressed his disappointment over how the rising value of the club has made a potential acquisition increasingly challenging. “When I first considered buying Arsenal, it was within reach at $2 billion,” Dangote said. “But now, the valuation has skyrocketed to $4 billion. At this new price, acquiring the club is practically impossible for me.”
Arsenal FC, one of the most storied clubs in English football, has seen its value soar in recent years due to a combination of on-pitch success, increased global popularity, and the lucrative nature of the Premier League. The club’s ownership structure, under American businessman Stan Kroenke and his Kroenke Sports & Entertainment group, has also contributed to the rising valuation. Kroenke has shown no inclination to sell, further complicating Dangote’s aspirations.
Despite his regret, Dangote remains an ardent supporter of the Gunners. The billionaire has been vocal about his passion for the club and has often spoken about his dream of one day owning it. “For now, I will have to settle for being a loyal fan,” he admitted. Dangote added that he continues to follow the team’s progress closely and is optimistic about their future prospects under manager Mikel Arteta.
The oil magnate’s refinery project, located in Lagos, Nigeria, is a testament to his vision and commitment to transforming Africa’s energy landscape. Once fully operational, the refinery is expected to significantly reduce Nigeria’s dependence on imported petroleum products and position the country as a major exporter of refined oil. For Dangote, the decision to prioritize the refinery over acquiring Arsenal was not taken lightly. “The refinery was an essential national project. It was something I couldn’t compromise on,” he said.
Nevertheless, Dangote’s missed opportunity highlights the challenge of balancing personal ambitions with business priorities. His candid admission of regret underscores the complex decisions that come with managing large-scale investments and aspirations.
While Dangote’s dream of owning Arsenal may seem distant for now, he remains an influential figure in global business and a passionate advocate for the growth of sports in Africa. For Arsenal fans, the prospect of one of their most famous supporters potentially owning the club, even if it’s a distant possibility, continues to spark intrigue and excitement.
In the meantime, Dangote’s story serves as a reminder that even billionaires face limits when navigating the ever-changing dynamics of global sports ownership.