Businessman explains why he did not proceed with purchasing the football club despite long-standing interest
by wapcodehub9ja live news ||
Correspondent Reporting Live From Lagos, Nigeria
Nigerian businessman Aliko Dangote has explained why he has not gone ahead with plans to purchase English football club Arsenal, revealing that the current valuation of the club does not align with his business priorities. Dangote stated that the club is now valued at about four billion dollars, a figure he said is not suitable for him to commit to at this time.
Dangote noted that while he had previously shown interest in acquiring Arsenal, the club’s performance at the time influenced his decision-making. He said ownership would only have been considered if the team was consistently winning major trophies and delivering strong competitive results.
He disclosed that he regrets not pursuing the acquisition earlier, when Arsenal’s valuation was significantly lower at around two billion dollars. According to him, the opportunity existed, but he chose to prioritize other investments that offered more certainty.
The billionaire businessman explained that his focus at the time was on completing his oil refinery project, which he described as a more reliable and strategic investment. He emphasized that the refinery required full attention and capital commitment due to its scale and long-term importance.
Although Arsenal’s recent performances have improved compared to previous years, Dangote said the investment still does not make financial sense for him at the current valuation. He stressed that business decisions must align with clear value and long-term returns.
Dangote’s comments have sparked widespread discussion about the scale of wealth involved in elite football ownership and the financial considerations behind major acquisitions. His remarks underline how business leaders assess risk, performance, and value before committing to large investments.
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