Africa’s most affluent business magnate, Aliko Dangote, has elucidated his decision to forgo the acquisition of the English football club, Arsenal, which is estimated to be valued at approximately $4 billion.
During an interview on Bloomberg TV in New York on Monday, Dangote articulated that the window of opportunity to procure the club has lapsed.
He further articulated that he does not possess the surplus liquidity to rationalize allocating $4 billion towards a football club solely for promotional purposes.
According to Dangote, he will continue to manifest his affection and allegiance to Arsenal as one of their staunchest supporters. Nonetheless, he expounded that it no longer aligns with financial prudence for him to channel such a substantial sum into acquiring the club.
“I think that time has passed. The last time when we had this interview, I told you that as soon as I finished the refinery, I’m going to try and buy Arsenal.
“The issue is that you know, everything has gone up. The club is doing very well. Arsenal is doing very well. That time, Arsenal wasn’t doing really well. I think you know, I don’t have that kind of excess liquidity to go and buy a club for $4 billion dollars, so to speak, and use it just as a promotional something.
“What I will do is to continue to be the biggest of Arsenal. I watch their games everyday. I will remain a major supporter of Arsenal. But I think it will make sense today to buy Arsenal,” Dangote said.