By Nana Kwame Bediako
Africa’s second-richest man, Aliko Dangote, has expressed profound regret over his missed opportunity to purchase English Premier League club Arsenal. Dangote, the Chairman of Dangote Group, revealed in a recent Bloomberg TV interview, that he had once considered acquiring the North London club for $2 billion, a decision he now rues as Arsenal’s valuation has skyrocketed to approximately $4 billion.
Back in 2020, Dangote, who was deeply entrenched in completing his ambitious refinery project, made headlines with his intention to buy Arsenal. The billionaire had planned to embark on this venture post-refinery, seeing it as a strategic investment. However, the tides of time and the rise in the club’s value have rendered the opportunity out of reach.
As of September 2024, Dangote’s financial achievements place him as the second-richest individual in Africa, with a net worth estimated at $13.4 billion. His fortunes are only slightly eclipsed by Johann Rupert, who holds the title of Africa’s richest person with a net worth of $14.3 billion. This financial landscape adds an intriguing context to Dangote’s regret, showcasing that even the wealthiest individuals are not immune to the whims of market dynamics and the consequences of strategic delays.
“I think that time has passed. 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”; Dangote said.
Dangote’s candid admission that “the time has passed” for him to buy Arsenal sheds light on the rapidly evolving world of sports investments. He noted that during his initial interest, the club was not performing well, a stark contrast to its current success and soaring valuation.