In a recent interview with Bloomberg TV in New York, Aliko Dangote, the Chairman of Dangote Group and Africa’s second-richest individual, expressed regret over his missed opportunity to purchase the Premier League club, Arsenal, for $2 billion.
The Nigerian billionaire acknowledged that the current valuation of the club has soared to around $4 billion, making it no longer feasible for him to justify such an acquisition.
Back in 2020, Dangote had publicly declared his ambition to acquire the North London-based football club, but only after completing his ambitious refinery project in Nigeria.
Now, four years later, as of September 2024, Dangote’s net worth is estimated to be $13.4 billion. Despite his substantial wealth, he explained that his priorities have shifted, and the opportunity to purchase Arsenal has passed.
“The time has passed for me to buy Arsenal,” Dangote remarked during the interview. “When we last spoke, I told you that once my refinery was completed, I would look into acquiring the club. But since then, everything has become more expensive. Arsenal, in particular, is performing exceptionally well, and that has driven its value up. Back when I wanted to buy, they were not in as strong a position.”
Reflecting on the situation, Dangote expressed that, while he does have some regrets about not seizing the opportunity to buy Arsenal earlier, investing in his refinery was the right decision.
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“I regret not buying Arsenal when I had the chance. But at the time, I needed to focus my resources on completing my projects, particularly the refinery. If I had spent $2 billion on Arsenal, I wouldn’t have had the capital to finish what I started. In hindsight, completing my project was the right move, even if I missed out on owning the club.”
Despite the missed opportunity, Dangote reaffirmed his dedication to the club as a loyal supporter. “I’ll always be Arsenal’s biggest fan,” he shared. “I watch their games regularly and will continue to support them, but from a business perspective, it no longer makes sense to buy the club.”
In a moment of reflection, Dangote concluded, “Yes, I regret not purchasing Arsenal earlier, but focusing on my refinery project was the right decision for me. My love for the club remains, even if I’m not the one at the helm.”
Through this candid acknowledgment, Dangote highlighted the balance between personal passion and business pragmatism, a decision he seems to have come to peace with, albeit with some lingering ‘what-ifs’.