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Nairaland Forum / Nairaland / General / Business / Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera (34363 Views)
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Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by disloman(m): 11:52am On May 09, 2015 |
free2ryhme:Go n ask a 2yrs old boy that.U daft to my liking asking mi such question? |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by goodgate: 12:05pm On May 09, 2015 |
luchy34:. Roman abramovich is worth $9billion. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by tanimola22: 12:11pm On May 09, 2015 |
akintun: Nice and verified! |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by Defcon1(m): 12:16pm On May 09, 2015 |
free2ryhme: That is the lot of many on here. Any opinion contrary to theirs is seen as being motivated by hate. Instead of countering opinions with intellect and grace, they resort to shades and childish tantrums. 1 Like 1 Share |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by Eyepencil: 12:23pm On May 09, 2015 |
Psylas:4 times richer? guy u get malaria abeg. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by Nobody: 12:28pm On May 09, 2015 |
Dangote because they call you the richest. .....mhhhh We are waiting for you oooooooo. ....Please buy arsenal |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by oseo1(m): 12:43pm On May 09, 2015 |
If Dangote were to buy any premier league team he would be the second richest owner in the league behind only the owner of man city, even richer than Roman abramovich. He CAN afford any premier league club. There is no billionaire who has their money in cash, every single one has the vast majority of their wealth and value in stock and bonds |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by free2ryhme: 12:47pm On May 09, 2015 |
Paretomaster: Has Dangote any business ventures in Europe? How is Dangote richer than Abrahmovic? |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by tanimola22: 12:51pm On May 09, 2015 |
misterjosh: Yes, majority of Dangote's wealth are in shares and physical assets, but so is the majority of the wealth of all other billionaires you know. The net wealth quoted by Forbes for any billionaire is not cash balance in bank account, it is marked-to-market wealth. This explains why Bill Gates position on Forbes can be volatile as his wealth in large parts follows the performance of Microsoft's shares. To Dangote not having enough cash, that is not true. The combined cash and bank balances for Dangote's listed companies alone - Dangote Cement, Dangote Sugar, NASCON and to a small extent Dangote Flour - is normally around 60 billion Naira/year, with more than 70% of this coming from the Cement business. I have not even included the cash interest earned on this cash balance and the cash balance and interest from other of his many businesses that I've not listed..60 billion Naira is equivalent to around 200 million pounds/ year. He has 18 businesses in total and most of these are generating cash.. See the businesses here http://en.wikipedia.org/wiki/Dangote_Group. I only included 4 of the businesses because they are public. Meanwhile, Arsenal's total wage bill per year is currently 180 million pounds, http://www.totalsportek.com/money/arsenal-player-salaries/. Given these verifiable facts that I've just enumerated, are we still saying Dangote does not have the required cash to cover the day to day running of Arsenal? Don't forget, Arsenal itself generates cash that is used to pay players and cover other administrative expenses and Dangote will not have to always pay players with cash from its other businesses..Finally, purchasing Arsenal will be no biggie for Dangote if he wishes. Banks are always willing to give him credit, he also has huge amounts of cash. His Olokola refinery costs 8 billion Dollars. He coughed out 4 billion Dollars while a consortium of banks gave him a loan worth 4 billion Dollars. If he sees Arsenal as a viable business, the highlighted facts suggest he won't have monetary difficulty purchasing it. Finally, Dangote is no fool..He has put two and two together and has repeatedly done the above stated analysis himself. I completely disagree that he does not have the financial capacity to buy and run Arsenal. However, whether Arsenal will be sold to him is a point that I cannot defend as issues like this are more normative than positive. T22 2 Likes |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by free2ryhme: 12:54pm On May 09, 2015 |
Bluetooth2: Do you think running answer is like running frustrated clubs in the Nigeria Premier League where u owe people without pay for endless months? Ask dangote Hw many people he laid off without pay from Greenview Nigeria Limited at Apapa Wharf without pay for no reasonable cause? Please spare me your frustrations, it is quite understandable |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by free2ryhme: 12:55pm On May 09, 2015 |
disloman: When u read superior argument you have no option that to allow the master |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by free2ryhme: 12:57pm On May 09, 2015 |
Bluetooth2: When u have something reasonable to say pls let seun know |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by free2ryhme: 1:03pm On May 09, 2015 |
UncleJudax: Exactly! They think AFC is BCC lions of Gboko where u can run down without question or unaccountability |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by tanimola22: 1:12pm On May 09, 2015 |
I laugh when people say things like what does Dangote know about running a football club. Does one have to be a former player/coach to run a football club, capital NO! What did Roman Abramovich know about running a football club before he bought Chelsea? If indeed someone can intelligently articulate what Roman was in football before he bought Chelsea, I'd be glad to hear. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by idupaul: 1:15pm On May 09, 2015 |
The writer is very dull and possesses poor analytical skills requisite to be a good critic.. Please he should stick to criticising saint obi and co as Dangote is way out of his league |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by prettyboi1(m): 1:33pm On May 09, 2015 |
Atmmachine: You don't understand how these monies work bro. All these players would not be payed their salaries from Dangote's personal accout, they would be paid from the football club's personal account. Now, Dangote wants to buy the club...this means that he wants to be a shareholder of the "company" side of the football club. The money he brings into buying the shares are from his personal account but the money that would be used to pay staff and players would come from the Club's account. By the way, I hear the guy who owns the largest shares at Arsenal today is worth at least $5b? Dangote is worth at least $15b so you see that it's not your personal money you use to pay players right? cheers. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by Jarus(m): 1:35pm On May 09, 2015 |
What I know is that Dangote will not go into a business just for "glory". He must have done his analysis. Dangote is no kid in business. He's been in the game for almost 40 years now. And by the way, he's richer than Abrahamovic in Forbes ranking. Tell the poor overnight investment advisor to use his skills to make 1 percent of dangote's money first. 11 Likes 2 Shares |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by tanimola22: 1:36pm On May 09, 2015 |
prettyboi1: Simple and very clear explanation. I hope this sinks. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by Sholah96(m): 1:49pm On May 09, 2015 |
Dunno if this man is richer than those Abramovich etc but i'm sure he can't spend money like they do...Abramovich wey buy $4billion worth Yatch... |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by internetpo(m): 2:01pm On May 09, 2015 |
laurel03: I support you 1000%. Why buying a foreign club and devloping their economy. Plough the money back here jor. Infact I think its about time all those state govts that own football clubs should sell their ownership. How can a State have 2 - 3 state owned football clubs be pumping money into them (without any profits or proper accounting) and then owing workers 6moths salary. Nigeria we need to get our priority right. #DangotePleasebuyKanoPillars |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by Sultanchidi(m): 2:11pm On May 09, 2015 |
Go buy kano pillars joor, dem no go sell arsenal gv u even usmanov wen get money pass u no fit buy am. Invest 4 naija league |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by laytoshtwo: 2:28pm On May 09, 2015 |
free2ryhme: Good point,especially does who claim they did nt read the article. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by frankson1(m): 2:39pm On May 09, 2015 |
Dangote can't afford such clubs or he'd end up paying debt for the rest of his entire life. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by xtervaganza(m): 2:42pm On May 09, 2015 |
This is the worst article I have ever read on nairaland and probably my whole life. This guy knows little or nothing about football |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by frankson1(m): 2:48pm On May 09, 2015 |
Sholah96: Do you want him to go bankrupt? Dangote is rich, Dangote is rich. He was part of Oceanic bank down fall after borrowing billions. He thinks after buying a club that it's over. If tickets, deals, shirts sales were enough to run a club, many club owners would not be in debt. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by Paretomaster(m): 3:06pm On May 09, 2015 |
free2ryhme: YOU CAN GOOGLE THAT. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by Paretomaster(m): 3:12pm On May 09, 2015 |
free2ryhme: http://thenationonlineng.net/new/dangote-in-worlds-top-25-richest-with-20b-fortune/ |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by BobUg28(m): 3:15pm On May 09, 2015 |
I suggest he should have go for performing teams. Why Arsenal of all EPL clubs? Please somebody 'd advice that bloke. £1b is too much to waste on a useless club like Arsenal. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by Fem60(m): 4:47pm On May 09, 2015 |
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Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by duby91(m): 5:11pm On May 09, 2015 |
Bloody musician giving investment advice. Btw who asked for his opinion? Since when did this dude turn to an investment analyst? Before you acquire an asset tthere's something called due diligence, it's conducted on the asset to see the liabilities and the true worth if dangote does that and weighs his cash he will then be able to make a decision to either go ahead or drop it. Besides that's he's worth $15.2 billion, that's his assets' worth not liquid cash. This guy is so jobless he reads the news and then sits and writes rubbish. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by CTAkwanga(m): 5:15pm On May 09, 2015 |
etcetera you are right. 100 of Dangote would go bankrupt if they buy the club. Abeg Dangote, invest in some thing meaningful, at all, at all,if nothing to invest, help Nigerian send DSTV parking by investing in the sector. |
Re: Dangote Cannot Afford To Buy Arsenal Football Club – Etcetera by thepillarofafrica(m): 5:26pm On May 09, 2015 |
free2ryhme: had the same notion but had to think again after reading his detailed points and reasons |
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