Aliko Dangote Explains Why He Walked Away From Buying Arsenal

Nigerian billionaire Aliko Dangote has revealed that he once came close to buying Arsenal before choosing to focus on expanding his business empire instead.

Speaking during an interview, Dangote admitted he was “very, very focused” on purchasing the English professional football club at one point.

However, he said he faced mounting pressure to complete his refinery, fertilizer and petrochemical projects at the same time.

When I was really very, very focused on buying Arsenal, I was also facing the challenge of making sure the refinery gets to completion, the fertilizer and petrochemical projects.

Dangote said Arsenal carried a valuation of around $2 billion at the time, forcing him to weigh his options carefully.

I was thinking, should I put my $2 billion in Arsenal and allow the business to suffer, or should I complete the business and continue to remain a very big supporter of Arsenal?

Despite stepping away from the deal, he insisted his love for the club remains strong.

I am an Arsenal fan. It is better for me to remain as a fan and continue to fund my own business rather than just putting the money there.

Dangote also said Arsenal’s value has increased sharply over the years, making a possible takeover less attractive from a business perspective today.