Africa’s richest man, Aliko Dangote, has disclosed that he will no longer pursue the purchase of Premier League club Arsenal.

According to the President and Chief Executive of Dangote Group, the ideal time to acquire the club has passed.

Dangote had to choose between completing his $20 billion oil refinery or buying the English club and ultimately opted for the former.

Despite expressing regret for not acquiring Arsenal when it was valued at $2 billion, the business mogul believes that completing the refinery was a wiser investment.

In a recent chat with Bloomberg, Dangote revealed that he no longer has excess liquidity to buy Arsenal, citing the club’s resurgence in recent seasons.

“That time has passed. The last time we had this interview, I told you that as soon as we finished the refinery, I would try and buy Arsenal.

“But the issue is that, you know, everything has gone up—and the club too. They are doing well. Arsenal is doing extremely well. That time, Arsenal wasn’t doing well.”

Despite acknowledging that he does not have the financial capacity to purchase the club, Dangote reaffirmed his commitment as a devoted Arsenal fan.

“I think I don’t have that kind of excess liquidity to go and buy a club for $4 billion, so to speak, and use it as a promotional tool. I’d rather do something else with that money.

“What I’ll do is continue to be the biggest fan of Arsenal. I watch their games every day. I will remain a major supporter of the club, but I don’t think it makes sense today to buy Arsenal.”

Meanwhile, Arsenal remains under the ownership of Kroenke Sports & Entertainment (KSE), led by Stan Kroenke, who completed a full takeover of the club in August 2018.
According to Sports, the American businessman acquired Alisher Usmanov’s 30% stake, forcing out the remaining minority shareholders.

WDN