Nigerian billionaire Aliko Dangote has abandoned his long-held ambition to acquire Arsenal Football Club, acknowledging that the opportunity has now passed.

Dangote stated in a Bloomberg TV interview in New York that Arsenal’s recent success surge has doubled the club’s valuation from $2 billion to $4 billion, exceeding his planned investment figure.

He said:

“When I wanted to buy, Arsenal wasn’t doing really well

“Now I don’t have that type of excess liquidity to go and buy a club for $4 billion and use it as a promotional tool. I would rather do something else with the money.”

He had long desired to acquire the club for $2 billion, but the demands of his ambitious business projects took priority.

Dangote remains unwavering in his love for the Gunners, continuing to passionately support the club despite stepping back from a potential takeover.

He added

“I will continue to be the biggest fan of Arsenal and watch matches.”

Back in 2021, Aliko Dangote, the powerhouse behind Dangote Group, once again made headlines with his links to Arsenal FC, a club then valued at $2 billion.

This wasn’t the first time Africa’s richest man set his sights on the North London giants. Years earlier, Dangote had his eye on acquiring Lady Nina Bracewell-Smith’s coveted 15.9% stake in the club, a move that could have shifted the power dynamics at Arsenal.

However, American billionaire Stan Kroenke swooped in, sealing the deal in 2015 and solidifying his grip on the club.