Aliko Dangote: Why I Decided Not to Buy Arsenal

Nigerian billionaire Aliko Dangote revealed that he abandoned his long‑standing plan to acquire Arsenal F.C., opting instead to direct his resources toward completing the Dangote Refinery.

In a conversation with Nicolai Tangen, CEO of Norges Bank Investment Management, Dangote said he had almost taken the step when the club was valued at roughly $2 billion, but decided that funding his refinery was a more prudent choice.

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

“When I was focused on buying Arsenal, I was also focus on the refinery get to its completion. At the time, Arsenal was worth about 2 billion dollars, so I asked myself: should I put my 2 million dollars in Arsenal and allow the business to suffer, or continue the business and continue to remain a very big supporter of Arsenal.”

Dangote said he opted to keep backing the club as a supporter rather than as an owner.

“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.

The billionaire added that the club’s value has risen significantly since then, making a takeover far less attractive.

“And today they are worth billions, it is not worth the while,” he said.

Vanguard News

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