Aliko Dangote: Why World’s Richest Black Man Refused to Buy Arsenal for $2 Billion
- Arsenal could have had a very different ownership story after Nigerian billionaire Aliko Dangote disclosed he once considered buying the club
- A lifelong supporter of the Gunners, Dangote ultimately passed on the opportunity to purchase the club in 2019
- According to Forbes, the business magnate remains the world’s richest Black man, with an estimated net worth of $28.5 billion
Africa’s richest man, Aliko Dangote, has finally explained why he walked away from a potential takeover of Arsenal despite seriously considering a deal worth around $2 billion.
The Nigerian billionaire disclosed that he came close to buying the North London club seven years ago but ultimately chose to prioritise the expansion of his business empire instead.
Source: Getty Images
Why Dangote snubbed Arsenal purchase
Speaking during a podcast interview with Nicolai Tangen, the Chief Executive Officer of Norges Bank Investment Management, Dangote admitted the timing simply was not right. He said, as quoted by Punch:
“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 founder of Dangote Group explained that he was heavily focused on completing major projects, including his refinery, fertiliser plant, and petrochemical investments, making a football takeover difficult to justify financially.
Can Dangote afford Arsenal?
For years, the 69-year-old had openly expressed interest in purchasing Arsenal and was frequently linked with a possible move for the club.
At one stage, many supporters believed the lifelong Gunners fan would eventually arrive as owner.
However, the businessman says the dramatic rise in Arsenal’s value has now made the idea far less attractive.
“Today they are worth billions, and it’s not really worth my while at all,” he said.
Despite shelving the ambition, his affection for Arsenal remains unchanged.
Dangote added that he still follows the club passionately and even wears the team jersey on matchdays, including one signed by captain Martin Ødegaard.
“Any time that they are playing, I always wear the t-shirt,” he said.
According to Forbes, Dangote’s estimated net worth stands at $28.5 billion, keeping him firmly atop the list of the world’s richest Black individuals.
Yet Arsenal’s soaring valuation – reportedly around $3.4 billion as of May 2025, per Forbes – means a purchase today would demand a far greater financial commitment than before.
The club is currently controlled by American businessman Stan Kroenke.
Source: Getty Images
Arsenal chases a historic double
While takeover speculation has faded, Arsenal’s performances on the pitch have given supporters fresh reasons for optimism.
The Gunners are now on the verge of ending their 22-year wait for a Premier League title, per projections from Opta's supercomputer.
With 79 points from 36 matches, Mikel Arteta’s side sit narrowly ahead of Manchester City, who trail by two points with two games remaining.
Arsenal know that victories in their final fixtures would guarantee a first league crown since 2004, regardless of City’s results.
There is also the possibility of an unforgettable season ending on an even greater high.
On May 30, Arsenal will face Paris Saint-Germain in the UEFA Champions League final in Budapest as they chase a historic European triumph alongside domestic glory.
When Chairman Wontumi bid for Chelsea
Earlier, YEN.com.gh reported that Chairman Wontumi once explored a sensational move to buy Chelsea four years ago.
The aspiring NPP National Chairman was said to have tabled a staggering £3.1 billion bid to acquire the Premier League giants.
Source: YEN.com.gh
