Dangote To Buy Arsenal FC In Four Years


Africa’s richest man, Aliko Dangote said he is still very much interested in buying Arsenal Football Club, one of the four leading teams in the English Premier League.

He made this known today in New York where he said he looks forward to buying the team in the next four years.

Last year, Dangote had made known his intention to buy the football club but, later shelved the decision.

Dangote is currently involved in a USD20 billion refinery project in Lagos. Coupled with his investments in Dangote Cement, he said he will want to focus on getting over with those before gearing up to go for the deal.

Dangote is worth about USD10 billion by Bloomberg billionaire index. Arsenal is said to worth about GBP1,7 billion based on its market capitalisation.

Dangote has not disclosed what he plans to do with the team but he told Bloomberg that he plans to run it better and it will not be “business as usual” when he is in charge.

Part of the reason for waiting for the next four years to make the offer for the football club is also as a result of the huge loss to his portfolio after the depreciation of the Naira (NGN).

In June, Dangote had confirmed that he has closed a loan deal with ICBC of China to further develop two of his Cement factories.

If for anything Dangote has just confirmed he has more on his plates than to focus on buying a football club.

Dangote is a diehard fan of Arsenal FC and his plan to buy the football club might be tied more to his passion for the team as opposed to a business  interest. If his bid to buy the club is successful, he will be the first African to own an English football club.

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