Friday, May 15, 2026 - Nigerian Billionaire and Africa’s Richest man, Aliko Dangote, has revealed why he abandoned his long-standing dream of buying Arsenal F.C., saying he chose instead to channel his resources into completing the $20 billion Dangote Refinery project.
The billionaire industrialist made the disclosure during a
recent podcast interview with Nicolai Tangen, CEO of Norges Bank Investment
Management.
Dangote said Arsenal was valued at approximately $2 billion
at the time he was seriously considering a takeover, but ultimately concluded
that investing in his refinery project was the wiser decision.
“I’m a big Arsenal fan, yes, I nearly bought the team,”
Dangote said.
“When I was focused on buying Arsenal, I was also focus on
the refinery get to its completion. At the time, Arsenal was worth about 2
billion dollars, so I asked myself: should I put my 2 million dollars in
Arsenal and allow the business to suffer, or continue the business and continue
to remain a very big supporter of Arsenal.”
Dangote said he eventually decided to remain a supporter
rather than pursue ownership, noting that Arsenal F.C.’s current valuation had
made a takeover even more unrealistic.
“Today they are worth billions, and it’s not really worth my
while at all,” he said.
“Any time that they are playing, I always wear the t-shirt,”
he said.
In his message to young Africans, Dangote urged hard work
and continental pride.
“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 said.
Dangote has been publicly linked to an Arsenal takeover for
over 15 years.
0 Comments