Dangote Reveals Determination To Buy Arsenal

Nigerian Billionaire, Aliko Dangote, has revealed his determination to buy one of English Premier League’s “big four” teams, Arsenal FC.

Africa’s richest businessman believed the building of an oil refinery in his homeland would give him the finance to secure a takeover.

The 58-year-old Kano State indigene, north-west Nigeria, who has an estimated wealth of £11.5bn, noted he had been supporting the Gunners since the 1980s.

“When we get this refinery on track, I will have enough time and enough resources to pay what they are asking for,” Dangote told BBC Hausa.

American Stan Kroenke is Arsenal’s majority shareholder, owning 66.64% of the club’s parent company Arsenal Holdings Plc.

Russian-Uzbek, Alisher Usmanov, owns 29.11% with the remainder of the 62,217 shares held by minority shareholders including former players and the Arsenal Supporters’ Trust, who own three.

Dangote, who is presently ranked 67th on the Forbes rich list, had previously been interested in purchasing the 15.9% stake sold to Kroenke for £123m by Lady Nina Bracewell-Smith in April 2011 only to pull out.

“There were a couple of us who were rushing to buy, and we thought with the prices then, the people who were interested in selling were trying to go for a kill,” Dangote added.

“We backtracked, because we were very busy doing other things, especially our industrialisation.”

Africa’s richest businessman also noted that the North London giants require a different ownership in order to be more successful on the pitch.

“They are doing well, but they need another strategic direction. They need more direction than the current situation, where they just develop players and sell them,” Dangote explained.