Nigerian business magnate Aliko Dangote has expressed regret over not purchasing Arsenal Football Club when it was valued at a lower price of around $2 billion.
Dangote, the President and Chief Executive of Dangote Group, has a net worth of over $20 billion and is considered one of Africa’s most successful entrepreneurs.
The billionaire business magnate, revealed in an interview with Bloomberg’s Francine Lacqua that he missed his chance to buy Arsenal Football Club because he prioritized investing in his refinery project.
He had previously expressed interest in acquiring the team, but now believes that opportunity has passed.
With Arsenal’s value now around $4 billion, Dangote admits he no longer has the excess funds to pursue the purchase, especially since the club’s fortunes have improved significantly.
“I think that time has passed. The last time when we had this interview, 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, Arsenal is doing extremely well right now. That time Arsenal wasn’t doing well.
“I think I don’t have that kind of excess liquidity to go and buy a club for $4 billion so to speak and use it as a promotional something.
According to him , he prioritized investing in his Dangote refinery project, which needed his financial attention at the time.
“Actually, I regret not buying it before but you know my money was more needed in completing my project (Dangote refinery) than buying Arsenal. I would have bought the club for $2 billion but you know I wouldn’t have been able to finish my project. So, It was either I finish my project or go and buy Arsenal.”
His interest in Arsenal highlights his passion for football and his desire to invest in the sport.
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Story by Asack Pius|univers.ug.edu.gh
