Dangote plans Arsenal take-over

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Aliko Dangote: plans Arsenal bid in three to four years
Aliko Dangote: plans Arsenal bid in three to four years

Bloomberg has reported that Aliko Dangote – Africa’s richest man – still has his coveting eyes on London football  club, Arsenal.

Dangote told Bloomberg that he intends to make a bid for the club ‘within three to four years’.

‘Maybe three to four years. The issue is that we have more challenging headwinds. I need to get those out the way first and start having tailwinds. Then I’ll focus on this.’ Dangote told Bloomberg.

The 59-year-old, who is believed to be worth around £8.3billion, has spoken of his interest to take over Arsenal on a number of occasions

“It’s not about buying Arsenal and just continuing with business as usual. 

‘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.

‘Right now, with what we’re facing, over £15billion of projects, I cannot do both.’

Dangote attempted to buy shares in Arsenal six years ago. The Nigerian tried to take over the 15 per cent owned by Lady Nina Bracewell-Smith, who eventually sold her stake to Stan Kroenke, the Daily Mail reported.Daily Mail

Dangote’s networth has shrunk by as much as $5.4 billion dollars in recent months because of the depreciation of the Nigerian currency. But his project to build Africa’s biggest petro chemical complex is still going as scheduled.

On Thursday, the African Export-Import Bank (AFREXIMBANK)   said that it would assist the Dangote Group to access foreign exchange and funding for its 14 billion dollars refinery projects.

Dr Okey Oramah, the President, AFREXIMBANK, gave the assurance during a tour with its board members to the refinery which is projected to refine 650,000 barrels of crude oil per day.

The tour of the facility was held at its location within the Lekki Free Trade Zone in Lagos.


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