Aliko Dangote, a Nigerian business magnate, says the time for him to buy Arsenal FC has passed.
In an interview with Bloomberg, Dangote, who was ousted as Africa’s richest person earlier this year, stated that he does not “have that kind of excess liquidity to buy a club for $4 billion”.
In recent years, the Nigerian business billionaire, who has followed Arsenal since the 1980s, has expressed his ambition to acquire a controlling position in the English Premier League (EPL) side.
Dangote, on the other hand, stated that his cash was “more needed in completing” his $19 billion refinery project in Lagos than purchasing Arsenal.
Dangote said:
“The time to buy Arsenal has passed. Last time, I said as soon I was through with the refinery, I was going to try and buy Arsenal. But the issue is that everything has gone up, and the clubs, too, are all doing very well.”
“Arsenal are also doing very well, but at that time, Arsenal were not doing very well. I do not have that kind of excess liquidity to buy a club for $4 billion. And use it as a promotional something. I would rather do something else with the money.
“What I will do is continue to be the biggest fan of Arsenal. I watch their games any time they are playing. I will remain a major supporter of Arsenal, but I do not think it makes sense today to buy Arsenal. I regret not buying the club before but my money was more needed in completing my project than buying Arsenal.”