Aliko Dangote Drops Plans To Buy Arsenal Football Club, Shares Regrets, Reasons
- Aliko Dangote, Africa’s richest man, has once again expressed his long-standing love for Arsenal Football Club.
- He revealed his earlier intention to purchase the club and explained why he had to make a tough decision for his business projects
- Dangote now regrets not pursuing the acquisition sooner, noting that the club’s valuation has significantly increased since he first considered the idea
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigerian billionaire Aliko Dangote has revealed that he will no longer pursue his interest in buying Arsenal Football Club.
In an interview on Bloomberg TV in New York on Monday, Dangote stated that the opportunity to buy the club has passed.
Source: Getty Images
Dangote noted that Arsenal's recent success has propelled its valuation from around $2 billion to $4 billion.
He said:
“When I wanted to buy, Arsenal wasn’t doing really well,.
"Now I don’t have that type of excess liquidity to go and buy a club for $4 billion and use it as a promotional tool. I would rather do something else with the money.”
Dangote remains a dedicated club supporter despite stepping back from a potential acquisition.
“I will continue to be the biggest fan of Arsenal and watch matches."
Dangote shares regrets
Aliko Dangote noted that he genuinely held an interest in buying Arsenal Football Club for $2 billion in the past but had to choose to complete his projects.
His words:
“I don’t think it makes sense to buy Arsenal today. Actually, I regret not buying it then for $2 billion, but my money was needed more to complete my project than to purchase Arsenal"
Bloomberg Index reports that Aliko Dangote is worth $13 billion and among the top 150 wealthiest men in the world.
Dangote is set to launch another project
Legit.ng reported that Aliko Dangote presented an 11-point industrialisation strategy for Nigeria.
Dangote stated that a knowledge-based system will drive the 11-point master plan at the 38th convocation lecture of Bayero University Kano.
Africa's richest man also addressed the audience on the "Role of the Private Sector in Building a Sustainable Knowledge Economy in Nigeria." He was represented at the event by his senior advisor, Mansur Ahmed.
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Source: Legit.ng
