Africa’s richest man, Aliko Dangote, has expressed regret over not purchasing Arsenal Football Club when he had the chance. In a recent interview with Bloomberg’s Francine Lacqua in New York, Dangote revealed that his financial focus on completing his massive refinery project in Nigeria took precedence over acquiring the English football club.
Dangote, who had previously shown interest in buying Arsenal, explained that the club’s value was around $2 billion when he first considered the purchase. However, he prioritized the completion of his $20 billion refinery project, which he deemed more critical at the time. “I would have bought it for $2 billion, but I wouldn’t have been able to finish my project. So, it was either you finish your project or buy Arsenal,” he stated.
Reflecting on his decision, Dangote admitted that the opportunity to buy Arsenal has now passed, with the club’s valuation soaring to approximately $4 billion. He acknowledged that he no longer has the “excess liquidity” required for such a purchase and would rather invest in more impactful ventures.
Despite this missed opportunity, Dangote remains a devoted Arsenal supporter. “I will continue to be the biggest fan of Arsenal. I watch their games every day. I will remain a major supporter of the club, but I don’t think it makes sense today to buy Arsenal,” he added.
Dangote’s decision to prioritize his refinery project has paid off, as the facility is now a significant topic of global discussion, with a refining capacity representing about 1.1% of the world’s total. However, the billionaire’s regret over not acquiring Arsenal highlights the tough choices business leaders often face when balancing personal ambitions with professional responsibilities.
