Business
I wouldn’t have been able to complete my refinery if I bought Arsenal — Aliko Dangote
Alhaji Aliko Dangote, President of the Dangote Group, has said he would have been unable to complete his $21 billion Dangote Refinery in Lagos if he had bought English side club when the team was valued at around $2 billion.
Dangote, a lifelong Arsenal fan, expressed his regret for not buying the club when the team was valued at around $2 billion, but noted that it was a case of putting money where it was needed more.
Speaking in an interview with Bloomberg’s Francine Lacqua in New York, the Kano State born billionaire explained that he missed out on buying Arsenal by committing his resources to the refinery project.
“I think that time has passed. The last time when we had this interview, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal,” he said, noting that he didn’t eventually buy it because it would have been difficult to complete his refinery if he did.
Speaking about buying the club in the future, he said, “But you know everything has gone up and the club too is doing very well, Arsenal is doing extremely well right now. That time Arsenal wasn’t doing well.
“I think I don’t have that kind of excess liquidity to go and buy a club for $4 billion so to speak and use it as a promotional something.”
Dangote said he would continue be an Arsenal fan.
“What I will do is to continually be the biggest fan of Arsenal. I watch their games anytime they are playing. So, I will remain a major supporter of Arsenal but I don’t think it makes sense today to buy Arsenal,” he said.
When asked if he regretted not buying when Arsenal’s value was lower, he said, “Actually, I regret not buying it before but you know my money was more needed in completing my project (Dangote refinery) than buying Arsenal. I would have bought the club for $2 billion but you know I wouldn’t have been able to finish my project. So, It was either I finish my project or go and buy Arsenal.”
Dangote had in 2020 disclosed his intention to go for the North London club after his refinery project.
