Nigerian Industrial magnate and chairman of Dangote Group, Aliko Dangote has revealed that he no longer intends to buy Arsenal FC, saying the opportunity to do so has passed.
Gatekeepers News reports that Dangote
who is one of the biggest supporters of the club revealed this while speaking during an interview on Bloomberg TV in New York on Monday.
The business man said he does not “have that kind of excess liquidity to buy a club for $4 billion”.
Before this, Dangote has in recent years announced his desire to purchase a controlling stake in Arsenal.
Giving his reason for reconsidering, Dangote revealed that it is more important for him to use his funds to complete his $19 billion refinery facility in Lagos.
He 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.”
