Billionaire Aliko Dangote, Chairman of Dangote Group, has expressed regret over his decision not to purchase Premier League club Arsenal for $2 billion. In a recent interview with Bloomberg TV in New York, Dangote acknowledged that the opportunity has slipped away, with Arsenal now valued at around $4 billion.
Back in 2020, Dangote had announced plans to acquire the North London club once his refinery project was completed. However, as of September 2024, the billionaire, currently the second-richest person in Africa with an estimated net worth of $13.4 billion, says he no longer has the financial capacity to justify such a large investment.
“I think that time has passed,” Dangote remarked. “The last time we spoke, I mentioned that after finishing my refinery, I’d consider buying Arsenal. But now, the value of clubs has skyrocketed, and Arsenal is doing extremely well. At the time I was interested, they were not performing as well.”
Dangote explained that choosing to prioritize his refinery project was the right move at the time, even though it meant missing out on Arsenal. “I regret not buying Arsenal earlier, but my money was needed for my projects. I could have bought it for $2 billion, but that would have meant not completing my refinery.”
Despite his regret, Dangote remains a devoted fan of the club. “I’m still the biggest Arsenal fan,” he said. “I watch their games regularly and will always support them, but buying Arsenal today doesn’t make sense for me.”
Reflecting on his decision, Dangote concluded, “I regret not buying Arsenal earlier, but I believe completing my refinery project was the right choice.”
