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It is better I remain a fan” — Dangote explains why $20bn refinery stopped Arsenal takeover dream



The billionaire admitted that prioritising those businesses over football ownership became the only realistic option

by Gbemidepo Popoola


Africa’s richest man, Aliko Dangote, has once again revealed how the enormous scale of his $20 billion refinery project in Lagos forced him to abandon plans to buy English Premier League giants Arsenal.

Dangote made the disclosure during a podcast conversation with Nicolai Tangen, which was released on YouTube.

The billionaire businessman explained that he had seriously considered a takeover of the North London club at a time when Arsenal’s valuation stood around $2 billion. However, he ultimately decided that committing such a huge amount to football ownership could jeopardise the completion of his massive industrial projects, including the Dangote Refinery, fertiliser plant and petrochemical ventures.

“When I was really very focused on buying Arsenal, then I was also facing the challenge of making sure the refinery gets its own completion, the fertilizer, the petrochemical,” Mr Dangote said.

“At that time, Arsenal was worth just about $2 billion. Should I put my $2 billion in Arsenal and now allow the business to suffer? Or should I complete the business? Then I can continue to remain a very big supporter of Arsenal.”

The 69-year-old added that he eventually chose to remain a loyal supporter rather than pursue ownership of the Premier League club.

“So I decided to continue to support them, watch their games. Any time Arsenal plays, I always wear the jersey signed for me by the captain. I am a fan, it is better I remain a fan and continue to fund my business,” he added.


Dangote’s longstanding Arsenal dream

Mr Dangote’s admiration for Arsenal has been public knowledge for more than a decade.

Back in 2015, he told BBC Africa Sport that he intended to launch a takeover bid for the club once his refinery project began generating sufficient returns. At the time, the Nigerian billionaire was regularly linked with potential investment in European football, with Arsenal emerging as his preferred destination.

Five years later, during an interview with American financier David Rubenstein in 2020, Mr Dangote again confirmed his interest in the Gunners.

“It is a team that yes I would like to buy some day,” he said at the time.

“I’m not buying Arsenal right now, I’m buying Arsenal when I finish all my projects at hand (including the refinery under construction) then.”

However, Arsenal’s value has risen dramatically since then following renewed sporting and commercial growth under manager Mikel Arteta. The club are now estimated to be worth several billions more than when Mr Dangote first explored the possibility of a takeover.


Refinery project changed everything

Mr Dangote’s decision highlights the sheer magnitude of the refinery project, widely regarded as one of the largest single private investments in Africa’s history.

Located in Lagos, the Dangote Refinery was designed to reduce Nigeria’s dependence on imported petroleum products and strengthen industrial capacity across the continent.

Alongside the refinery, Mr Dangote was simultaneously developing major fertiliser and petrochemical operations, projects that required enormous financial commitment and long-term focus.

The billionaire admitted that prioritising those businesses over football ownership became the only realistic option.

Despite stepping away from takeover ambitions, Mr Dangote remains deeply attached to Arsenal and continues to follow the club closely as a passionate supporter.


Message to young Africans

Beyond football and business, Mr Dangote also used the interview to encourage young Africans to believe in opportunities within the continent.

“My own advice to young African people is to work hard and also have the belief that the future is greater than the current situation that we’re in,” he said.

“Africa is a promising land and they should stay at home.”

His comments come at a time when many young Africans continue to seek opportunities abroad amid economic uncertainty across several countries on the continent.

For Mr Dangote, however, the refinery project stands as proof that long-term investment and belief in Africa can still produce transformational results, even if it meant sacrificing a dream of owning one of world football’s biggest clubs.

https://www.premiumtimesng.com/sports/football/879683-it-is-better-i-remain-a-fan-dangote-explains-why-20bn-refinery-stopped-arsenal-takeover-dream.html

Clap for yourself. Mr cunny Fulani man enjoying the benefits from evil Nigeria government since 1980s

But fuel has become more expensive since he built the refinery, he for just buy Arsenal

Make Arsenal win EPL +UCL 1st before I reply Dangote.

Dangote abeg make we hear word this your refinery you always dey claim say e reach 20 billion dollars we know say that project no pass 13 billon dollars ,

Reading....


Who him refinery help?
Mode, please add more character.

Use the $2Billion and do give away sir, when Arsenal wins the league and who knows... They can win both EPL and UCL.

Tinubu wouldn't see this one to talk about 50 semi Dangotes investing in the Nigerian Sports scene to compete against each other inside Nigeria and drive up the Sporting Financial ecosystem, no.

He would however accept that we should host a continental awards and burn Nigeria's money.

As it England has 2 heads that Dangote can think of investing 2 Billion pounds at a time. He wouldn't ask why Dangote would t invest in a Nigerian football club, or what happened to Dangote when he did that in the past.

Rubbish Government that uses Sports as a special purpose vehicle to fritter public money.

Godblessme1:
Clap for yourself. Mr cunny Fulani man enjoying the benefits from evil Nigeria government since 1980s

Dey there de lament.. no go hustle

Of all the clubs in England it is only Arsenal a barren club you see abi?

Boladogailese:
But fuel has become more expensive since he built the refinery, he for just buy Arsenal

He is a shrewd man! He would never buy any football club. Any club he buys will relegate. Let him continue his production businesses, that's what he is good at.
Production businesses? Come to think of it, it seems there is money in producing something viable for sale.
What production business can I explore? God!

Dangonte just dey use una head. He feel take to run club for england na beans I no wan talk about signing of players just only weekly salaries ooooo. You feel say na Nigerian workers wey u dey hold salaries.


Buying of club is not the problem but running it.

Wetein dey pain me some Nigerians just dey believe say this lamba master can really buy a team like arsenal. Dangonte just dey use Arsenal speculation they boost is image.

20Billion dollars for that refinery lol this man and just calling of amounts
Oga go rest

As Arsenal FC want to lift the EPL and champions league cup u suddenly remember you can’t eat your cake and have it all.
Dead dream unalived

Which one is giving more money daily. The club or the refinery ?

And which one have less stress ?

Boladogailese:
But fuel has become more expensive since he built the refinery, he for just buy Arsenal

his he the wicked greedy government of Nigeria. Abi dem hold Nigerian government not to establish refineries. He his just a business go and hold your greedy government accountable for looting hell from the nation resources. A government that cannot establish refineries, electricity good hospitals has nothing to do with Dangote.

indeed the corruption in this british branch of a country has made this man the richest man.

Freshtruth:
Dangonte just dey use una head. He feel take to run club for england na beans I no wan talk about signing of players just only weekly salaries ooooo. You feel say na Nigerian workers wey u dey hold salaries.


Buying of club is not the problem but running it.

Wetein dey pain me some Nigerians just dey believe say this lamba master can really buy a team like arsenal. Dangonte just dey use Arsenal speculation they boost is image.

Oga go rest

Bad belle.

xxxxxxxxxxxxxxxx

Boladogailese:
But fuel has become more expensive since he built the refinery, he for just buy Arsenal

The removement of subsidy is sponsor by him so that he can regain his money back in just 3yrs na thus man dey determine wetin dey happened for this country. When Atiku was shouting in 2019 that he will privatize Nnpc by them na agreement he done get with dangonte that was the plan A when it failed he decided to do the plan B buy building his own refinery and team up with this government to remove susidy

We removed subsidy

We had our own refinery



Yet

Apc pdp LP Adc Ndc supporters are more poorer

If he did that, he could have been the actual one joyously heading to Double Victory by now..

BlackfireX:
We removed subsidy

We had our own refinery



Yet

Apc pdp LP Adc Ndc supporters are more poorer

You are the only Nigerian who is buying petrol and gas at a very cheap price

Dear Alhaji Aliko Dangote,

You took the best and the most strategic decision of your entire business Journey.

Your name has travelled further to parts of the world than no other Nigerian and African has gone in the last 50 years.

The demand and potential for growth in both FX and domestic terms is far more exponential than any investment in Arsenal football club by far.

The volume of taxes on your stock dividends from the UK Government alone will dwarf all the potential margins you make on the refinery , the goodwill and energy security you enjoy on the long-run.

Godblessme1:
Clap for yourself. Mr cunny Fulani man enjoying the benefits from evil Nigeria government since 1980s

Isn’t it how modern day capitalism works?

Continue deceiving how those iron wey you pack together take be $20b

Would racism allow them sell the club to him?

Afonja007:
Dangote abeg make we hear word this your refinery you always dey claim say e reach 20 billion dollars we know say that project no pass 13 billon dollars ,

You and who know? Someone came into your bedroom and informed you?

They know you are crooky billionaire

Flangelo12:
Bad belle.

xxxxxxxxxxxxxxxx

did I lie before u feel say epl na dodo league

Freshtruth:
did I lie before u feel say epl na dodo league

Nothing compared to a refinery.

Is it that you guys don't have knowledge?


Stan Kroenke Net worth 26 Billion

Alike Dangote Net Worth 32 Billion.

Freshtruth:
Dangonte just dey use una head. He feel take to run club for england na beans I no wan talk about signing of players just only weekly salaries ooooo. You feel say na Nigerian workers wey u dey hold salaries.


Buying of club is not the problem but running it.

Wetein dey pain me some Nigerians just dey believe say this lamba master can really buy a team like arsenal. Dangonte just dey use Arsenal speculation they boost is image.

Oga go rest

Do your research... Owning a top flight club in Europe is profitable.

Tickets, jersey sales, TV rights, Sponsorship, Deals, Adverts...

Boladogailese:
But fuel has become more expensive since he built the refinery, he for just buy Arsenal

Lol make he buy Arsenal....


Make Dem stop to dey dream Abt Cup...


Na aw to use Dem make more money Baba go dey think...