Aliko Dangote, Africa’s richest man, has explained why he abandoned his long-held ambition of buying Arsenal F.C., saying he chose to focus instead on completing the $20 billion Dangote Refinery project.
Dangote made the revelation during a recent podcast interview with Nicolai Tangen.
According to the billionaire businessman, Arsenal was valued at around $2 billion when he seriously considered acquiring the club, but he eventually decided that investing in the refinery project was a more important priority.
“I’m a big Arsenal fan, yes, I nearly bought the team,” Dangote said.
“When I was focused on buying Arsenal, I was also focused on the refinery getting to its completion. At the time, Arsenal was worth about $2 billion, so I asked myself: should I put my $2 billion in Arsenal and allow the business to suffer, or continue the business and remain a very big supporter of Arsenal?” he added.
Dangote said he ultimately chose to remain a loyal fan rather than pursue ownership of the club, noting that Arsenal’s current market value has now placed a takeover beyond practical consideration.
“Today they are worth billions, and it’s not really worth my while at all,” he said.
Despite stepping away from the idea of ownership, Dangote reaffirmed his passion for the North London club.
“Any time they are playing, I always wear the t-shirt,” he said.
Offering advice to young Africans, Dangote encouraged hard work, optimism, and confidence in the continent’s future.
“My own advice to young African people is to work hard and also have the belief that the future is greater than the current situation that we’re in. Africa is a promising land, and they should stay at home,” he stated.
Dangote has been linked with a possible Arsenal takeover for more than 15 years.
