Aliko Dangote, Africa’s richest man, has declared
that his desire to buy over English Premier
League club, Arsenal is by no means diminished.
Since making his interest on Arsenal known last
year, many felt the dream had died. But Mr.
Dangote said he needed to wait for his business
prospects to improve and his investments in gas
pipelines and an oil refinery to play out before
making the acquisition which he hopes will be
completed in about four years’ time.
Mr. Dangote said in an interview with Bloomberg
Television on Wednesday that “there’s no doubt”
he’ll buy Arsenal. He said it was not a problem.
“Maybe three to four years. The issue is that we
have more challenging headwinds. I need to get
those out (of) the way first and start having
tailwinds. Then I’ll focus on this,” he said.
Mr. Dangote, worth about $10.9 billion, according
to the Bloomberg Billionaires Index, was quick to
also state that when he eventually takes over
Arsenal, it would not be business as usual at the
Emirates ground of the Gunners.
“It’s not about buying Arsenal and just continuing
with business as usual,” he said. “It’s about
buying Arsenal and turning it around. I’ve run a
very successful business and I think I can also
run a very successful team. Right now, with what
we’re facing, over $20 billion of projects, I cannot
do both.”
Dangote, an Arsenal fan since 1980, has lost $4.4
billion this year – the fourth most of anyone
globally – due mainly to the depreciation of
Nigeria’s currency, the billionaires index shows.
The bulk of his wealth is tied up in Lagos-based
Dangote Cement Plc, whose stock is down 4.7
percent this year.
If he succeeds in his acquisition bid, Mr. Dangote
will be the first African owner of a team in
England’s Premier League.


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