Africa’s wealthiest man, Alhaji Aliko Dangote, has expressed regret over not purchasing English Premier League club Arsenal when its valuation was lower.
In an interview with Bloomberg’s Francine Lacqua in New York, Dangote revealed that committing resources to his refinery project prevented him from acquiring Arsenal. “I think that time has passed… The last time we had this interview, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal.”
Arsenal’s value has surged to $4 billion, making acquisition less feasible. Dangote stated, “I don’t have that kind of excess liquidity to go and buy a club for $4 billion… But what I will do is to continually be the biggest fan of Arsenal.”
When asked if he regretted not buying Arsenal earlier, Dangote admitted, “Actually, I regret not buying it before… My money was more needed in completing my project (Dangote refinery) than buying Arsenal. I would have bought the club for $2 billion, but I wouldn’t have been able to finish my project.”
Despite abandoning his ambition to acquire Arsenal, Dangote remains optimistic about the club’s performance. “Arsenal is doing extremely well right now.”
Founder of the Dangote Group, the largest conglomerate in West Africa, Dangote continues to focus on his business endeavors.