Dangote regrets not buying Arsenal - here's why

 The Africa's richest man acknowledged that the Arsenal's current value is now beyond his reach, with reports estimating it around $4 billion.

Aliko Dangote, president and chief executive officer of Dangote Group, during a Bloomberg Television interview in New York, US, on Monday, Sept. 23, 2024. [Getty Images]

Alhaji Aliko Dangote, President and CEO of Dangote Group, has expressed regret over not purchasing Arsenal Football Club when the opportunity arose.

The Nigerian billionaire, who once aspired to own the North London club, revealed that he had to forgo the deal to complete his massive refinery project.

In an interview with Bloomberg's Francine Lacqua in New York, Dangote explained how Arsenal's value was around $2 billion when he initially considered buying the club.

However, his financial focus shifted to his refinery project, which became his priority.

"I think that time has passed. The last time we spoke, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal. But you know everything has gone up, and the club, too, is doing very well. At that time, Arsenal wasn't performing well," Dangote said.

Dangote, known as Africa's richest man, acknowledged that the club's current value is now beyond his reach, with reports estimating it around $4 billion.

"I don't have that kind of excess liquidity to go and buy a club for $4 billion and use it as a promotional something," he added.

Despite his missed opportunity, Dangote remains a loyal Arsenal supporter, saying, "I will remain a major supporter of Arsenal, but I don't think it makes sense today to buy the club."

Reflecting on his decision, he admitted, "I regret not buying Arsenal earlier, but my money was more needed in completing my refinery project."