Why Aliko Dangote’s Arsenal takeover dream collapsed
By Joel Masibo, September 29, 2026African billionaire Aliko Dangote recently explained why he eventually dropped his long-standing ambition to acquire English Premier League side Arsenal.
Earlier in 2026, Dangote said his decision was largely influenced by the huge financial demands of completing his refinery and other major industrial projects in Nigeria.
The Dangote Group founder was speaking during a podcast interview with Nicolai Tangen, Chief Executive Officer of Norges Bank Investment Management, published on the organisation’s official YouTube channel in May 2026.
According to Dangote, Arsenal was valued at roughly $2 billion (about Ksh259.4 billion) when he was seriously exploring the possibility of taking control of the club. However, he faced a choice between investing the money in the football club and using it to complete his business projects.
“When I was really very, 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.
“At that time, Arsenal was worth just about $2 billion. Should I put my $2 billion (about Ksh259.4 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,” he said.
Dangote said he eventually opted to prioritise his businesses while continuing to support Arsenal as a fan rather than becoming its owner.
He also indicated that the club’s increased valuation has made the prospect of purchasing it considerably less attractive to him.
“Today they are worth billions and it’s not really worth my while at all,” he said.
Despite abandoning the takeover plan, Dangote remains a committed Arsenal supporter. He said he continues to follow the club and regularly wears its shirt when the team plays, including a jersey signed by the captain.
“Any time that they are playing, I always wear the t-shirt,” he said.
Long-running Arsenal interest
Dangote’s interest in Arsenal dates back more than a decade. He has supported the North London club since the 1980s and was first publicly associated with plans to acquire a stake in the club around 2010.
In 2015, he told the BBC that he hoped to pursue a full takeover once his refinery was generating enough funds to support such an investment.
He maintained the ambition in subsequent years. In 2020, while speaking to American financier David Rubenstein, Dangote again indicated that Arsenal remained a potential future investment.
“It is a team that yes I would like to buy some day… I’m not buying Arsenal right now, I’m buying Arsenal when I finish all these projects.”
Despite his repeated expressions of interest, Dangote never submitted a formal offer for the club.
During the podcast, the billionaire who is also investing in oil refinery in Kenya’s Lamu County also encouraged young Africans to work towards improving their circumstances while maintaining confidence in the continent’s potential.
“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. Africa is a promising land and they should stay at home,” he said.