VIDEO: Why I no longer want to buy Arsenal FC — Dangote

The Chairman of Dangote Group, Aliko Dangote, has revealed why he no longer plans to pursue his long-standing ambition of buying Arsenal Football Club.

In a recent interview with Bloomberg’s Francine Lacqua in New York, Dangote admitted that the “time has passed” for him to purchase the Premier League club.

Dangote, who had previously expressed interest in acquiring Arsenal once his refinery project was completed, explained that the club’s valuation has significantly increased since then, making the investment less appealing.

“I think that time has passed. The last time we had this interview, I told you that, yes, as soon as I finished with the refinery, I was going to try and buy Arsenal,” he said.

He added that the dramatic rise in the club’s worth, alongside Arsenal’s recent success on the field, has altered his plans. “The issue is that everything has gone up. The clubs are all doing well, and Arsenal is doing extremely well now. At that time [when I wanted to buy], they were not doing very well.”

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Dangote further emphasised that the current valuation, estimated to be around $4 billion, would not be a prudent investment for him at this stage. “I don’t have that kind of excess liquidity to go and buy a club for $4 billion just for promotional purposes,” he admitted. “I would rather do something else with the money.”

Despite his decision not to pursue ownership, Dangote remains a passionate fan of Arsenal. “What I’ll do is continue to be the biggest fan of Arsenal.

“I watch their games every time and will remain a major supporter, but I don’t think it makes sense today to buy Arsenal,” he said.

Reflecting on his missed opportunity, Dangote expressed a sense of regret for not acting sooner. “Actually, I regret not buying Arsenal before, but my money was more needed in completing my project than buying Arsenal. I would have bought it for $2 billion,” he concluded.

For now, Dangote’s dream of owning Arsenal has been set aside, but his unwavering support for the club remains stronger than ever.