Aliko Dangote, chairman of Dangote Group, says “I don’t think it makes sense to buy Arsenal” Footbal Club today, at the current rate of $4 billion.
He planned to buy the North London club some years back, but shelved the acquisition for the completion of his refinery.
As of 2020, Arsenal was pegged at about $2billion and Dongote expressed the wish to buy it then.
However, in a recent interview with Bloomberg TV in New York, Dangote said the “time has passed” for that, adding “I don’t think it makes sense today to buy Arsenal”.”
Rather, he prefers to inject his funds into other ventures, saying he no longer has the liquify to acquire Arsenal.
“I think that time has passed…I don’t think it makes sense to buy Arsenal…,” he said.
“The last time we had this interview, I told you that, yes, as soon as I finished with the refinery, I was going to try and buy Arsenal. But the issue is that everything has gone up. The clubs are all doing well, and Arsenal is doing extremely well now. At that time [when I wanted to buy], they were not doing very well.”
Reflecting, he regrets not buying the club before now, obviously because it probably would have yielded well now that it is progressing.
“I regret not buying Arsenal before. But my money was needed to complete my (refinery) projects rather than buying Arsenal. I would have bought it for $2 billion, but I wouldn’t have been able to finish my project.”
But Dangote remains a devoted Arsenal supporter.
“I’ll continue to be the biggest fan of Arsenal. I watch their games every time and will remain a major supporter, but I don’t think it makes sense today to buy Arsenal,” he said, smiling.
If only Dangote did not say: “I don’t think it maes sense to buy Asrsenal”
Arsenal is one of the most storied teams in English football, with a history rich with triumphs and challenges. It has a passionate fan base, too. Founded in 1886, the club is known for its attractive, attacking football. Recently, Arsenal has shown strong form, finishing in the top four of the Premier League last season. This success secured a spot in the UEFA Champions League and rekindled hopes among fans.
Under Mikel Arteta’s management, the team plays with a focus on ball control and quick transitions. Key players like Bukayo Saka and Martin Ødegaard have made significant contributions. Their performances make Arsenal a formidable opponent.
Aliko Dangote, Africa’s richest man, expressed interest in buying Arsenal in the past. If he acquired the club, it could change its financial landscape. However, if he does not pursue this, like he said in a recent interview, he may miss several key opportunities.
First, owning Arsenal provides access to a global brand with vast market potential. The club has millions of fans worldwide, creating lucrative merchandising and sponsorship options. By not buying Arsenal, Dangote misses tapping into this expansive market.
Moreover, Arsenal’s recent success increases its value. Returning to the Champions League boosts financial standing through matchday income and commercial deals. Dangote needs the benefit from these increased revenues. Missing this chance means forfeiting potential profits.
Owning Arsenal is a potential influence in football governance. That could further test Dangote’s business managerial acumen. However, not buying the club means he remains on the sidelines. Additionally, Arsenal has significant growth potential. The club invests in young talent and infrastructure. Now, Dangote can not oversee that growth and he is missing the chance to impact the club’s future.
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