Africa’s richest man Aliko Dangote has set his sights on buying Premier League giants Arsenal in the near future.
African businessman Aliko Dangote is eyeing an investment in Premier League giants Arsenal in the near future. Dangote, who is currently Africa’s richest man, reportedly aims to buy the Gunners within the next three to four years.
The investor, whose wealth is currently valued at £8.3 billion as per Bloomberg’s index, revealed his intentions to buy Arsenal in an interview with Bloomberg.
Dangote said “maybe three to four years” when asked about the prospects of buying Arsenal. The businessman is a self-proclaimed Arsenal fan and his vision for the club after buying it seems crystal clear.
“It’s not about buying Arsenal and just continuing with business as usual,” the billionaire said. “It’s about buying Arsenal and turning it around. I’ve run a very successful business and I think I can also run a very successful team.”
— Bloomberg (@business) September 22, 2016
Arsenal have won 13 top-flight league titles in England, placing them among the most successful clubs in the country. However, their last title came way back in 2004, something which Dangote — being an Arsenal fan himself — would love to change.
Dangote was, however, quick to point out that he has some commitments that he needs to fulfil before investing in Arsenal. He said, “Right now, with what we’re facing, over $20 billion of projects, I cannot do both.”
A majority of Dangote’s wealth is tied up in Lagons-based Dangote Cements Plc., which has suffered a 4.7% decrease in share price due to the rapid depreciation of the Nigerian currency in comparison to other major currencies around the world.
This has caused a loss to the tune of £3.3 billion to Dangote, placing him fourth in the list of billionaires to have lost the most this year — a list which businessmen and investors hate being prominent in.
At present, Stan Kroenke, the owner of NBA franchise Denver Nuggets, is reported to own a majority stake of around 67% of Gunners’ Holdings and it is unlikely that the investor will relinquish control. If Dangote were to invest in or buy Arsenal, it would make the North Londoners the first major European club to be powered by African investment.