Joseph Isangura
Africa’s wealthiest individual, Aliko Dangote, recently disclosed his decision to forgo the chance to acquire Arsenal Football Club, one of the prestigious teams in the English Premier League.
Instead, the billionaire entrepreneur chose to prioritize investments in his expansive petrol refinery project. Dangote reflected on his missed opportunity, admitting some regret over not purchasing the club when its valuation was more favorable. At 67 years old, the Nigerian mogul had previously signaled interest in acquiring Arsenal as far back as 2019. He mentioned his intention to consider the purchase following the completion of his impressive 650,000-barrel-a-day refinery located in Lagos, Nigeria.
In 2021, Dangote was once again in the spotlight concerning Arsenal, which was estimated to be worth around $2 billion at the time. His interest was not new; he had previously attempted to buy a 15.9% stake in the club from Lady Nina Bracewell-Smith, a share that eventually went to Stan Kroenke.
Fast forward to 2024, Dangote’s $20 billion petrol refinery is now fully operational, generating diesel, jet fuel, and refined gasoline. Despite his enthusiasm for Arsenal and the sport in general, he has decided to put his plans to purchase the club on hold.
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In a recent interview with Bloomberg, Dangote shared his thoughts: “I think that time has passed. The last time I told you that as soon as I finished with the refinery, I was going to try and buy Arsenal. But, you know, everything has gone up, and the club is doing very well now. At that time, Arsenal wasn’t doing so well.”
