Dangote: I regret not buying EPL club, Arsenal, in 2020

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Chairman of Dangote Group, Aliko Dangote, said he regretted not buying English Premiership league, Arsenal.

The businessman and Africa’s richest man had nursed the idea of buying the EPL club at $2 billion, but declined along the way.

Bloomberg TV in New York reports that the billionaire, however, acknowledged that the “time has passed” for him to buy Arsenal, saying that the club is now valued at approximately $4bn.

Indeed in 2020, Dangote made his intention to acquire the North London club after completing his refinery project.

However, as of September 2024, Dangote is the second-richest person in Africa, with an estimated net worth of $13.4 billion.

He explained that he is no longer liquid enough to justify spending $4 billion on Arsenal.

He said, “I think that time has passed. The last time we had this interview, I told you that, yes, as soon as I finished with the refinery, I was going to try and buy Arsenal. But the issue is that everything has gone up. The clubs are all doing well, and Arsenal is doing extremely well now. At that time [when I wanted to buy], they were not doing very well.”

Dangote, who said investing in his refinery project was the right decision at the time, stated however that “I regret not buying Arsenal before. But my money was needed to complete my projects rather than buying Arsenal. I would have bought it for $2 billion, but I wouldn’t have been able to finish my project.”

Not buying Arsenal has not made him not a fan of the club, saying: “I’ll continue to be the biggest fan of Arsenal. I watch their games every time and will remain a major supporter, but I don’t think it makes sense today to buy Arsenal.”