“I Regret:” Dangote Speaks on Building Refinery Over Buying Arsenal, Explains What He’ll Do
- Aliko Dangote has stated that he chose to build a petrol refinery over acquiring English Premier League club Arsenal
- The business mogul has expressed regret, admitting that the value of the north London club was less at the time
- Dangote is a staunch fan of the Gunners, and the 67-year-old has disclosed that he will continue to support the club
Nigeria's richest man, Aliko Dangote, has expressed disappointment in his failure to acquire English Premier League club Arsenal.
In 2021, the president and chief executive of Dangote Group was linked with the London club, which was valued at $2 billion at the time.
It was not the first time Dangote had expressed interest in purchasing the Emirates Stadium outfit, as he wanted to buy Lady Nina Bracewell-Smith’s 15.9 per cent stake, which Kroenke eventually purchased in 2015.
Source: Getty Images
In a recent interview with Francine Lacqua of Bloomberg in New York, the entrepreneur explained that his commitment to the refinery project saw him miss out on Arsenal.
Dangote said:
“I think that time has passed. The last time when we had this interview, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal.
“But you know everything has gone up and the club too is doing very well, Arsenal is doing extremely well right now. That time Arsenal wasn’t doing well.
“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 something.
“But what I will do is to continually be the biggest fan of Arsenal. I watch their games anytime they are playing.
"So, I will remain a major supporter of Arsenal but I don’t think it makes sense today to buy Arsenal."
The 67-year-old however stated that he now regrets not coughing up the amount to buy the club, admitting that the value was lower at the time.
He added:
“Actually, I regret not buying it before but you know my money was more needed in completing my project (Dangote refinery) than buying Arsenal.
"I would have bought the club for $2 billion but you know I wouldn’t have been able to finish my project.
"So, It was either I finish my project or go and buy Arsenal.”
How much is Arsenal?
According to Forbes, Arsenal is valued at an estimated $2.6b. Arsenal and Emirates announced an extension of their partnership prior to the 2023/24 season.
Dangote addresses petrol pricing
Legit.ng earlier reported that Dangote finally addressed the ongoing debate surrounding the pricing of petrol produced from his refinery.
Speaking in an interview with Bloomberg Television interview in New York, Dangote noted that petrol from his refinery is about 15% or 20% cheaper than imported petrol.
Dangote's comments follow the Nigerian National Petroleum Company Limited (NNPCL) announcement that it paid N898 per litre to lift products from the Dangote refinery.
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Source: Legit.ng
