Why I Dropped Plans To Buy Arsenal — Dangote

Why I Dropped Plans To Buy Arsenal — Dangote

Nigerian billionaire and President of the Dangote Group, Aliko Dangote, has revealed why he abandoned his long-standing ambition to buy English Premier League club Arsenal F.C., despite having the financial capacity to complete the takeover.

Dangote said he was forced to choose between investing in the London football club and focusing on completing his massive industrial project, the Dangote Refinery, which he described as a far more critical national and business priority at the time.

Speaking on his interest in Arsenal, the billionaire admitted he was once very close to pursuing ownership of the club when its valuation was still relatively lower compared to its current multi-billion-dollar worth.

“I’m a big Arsenal fan, yes, I nearly bought the team,” Dangote said.

Dangote explained that during the period he considered acquiring Arsenal, he was simultaneously investing heavily in the refinery project, which required enormous capital commitment and long-term focus.

He said the decision ultimately came down to prioritising business stability over luxury investment.

At the time, he noted that Arsenal’s valuation was around $2 billion, and he had to carefully consider whether diverting such funds into a football club would affect his core business operations.

According to him, the refinery project demanded sustained financial discipline, and taking on a high-profile football club ownership could have created unnecessary pressure on his business empire.

Rather than proceed with a takeover, Dangote said he chose to remain a passionate supporter of the club from afar, maintaining his emotional connection without taking on ownership responsibilities.

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“So I decided to continue to support them, watch their games. Any time Arsenal plays, I always wear the jersey. I am a fan. It is better I remain as a fan and continue to fund my business,” he said.

Dangote also pointed out that the club’s financial value has increased significantly over the years, making any potential acquisition far more expensive and less practical than before.

Arsenal, one of the most commercially valuable clubs in world football, has seen its valuation rise into several billions of dollars due to increased broadcasting revenue, sponsorship deals, and improved sporting performance.

The club is currently owned by the Kroenke family through the holding company Kroenke Sports & Entertainment.

Dangote emphasized that his decision was also influenced by the scale of the refinery project, which remains one of the largest industrial investments in Africa.

The refinery, located in Lagos, is expected to significantly reduce Nigeria’s dependence on imported petroleum products and reshape the country’s energy sector.

Business analysts have repeatedly described the project as one of the most ambitious private-sector industrial developments on the continent.

Despite stepping away from ownership ambitions, Dangote reaffirmed his loyalty to Arsenal as a lifelong fan.

His earlier interest in the club generated global attention, especially among African football followers who viewed the possibility of an African billionaire owning a top Premier League side as historic.

However, he now maintains that remaining a supporter is the most practical decision given his ongoing business commitments and the club’s current valuation.

Why I Dropped Plans To Buy Arsenal — Dangote