Arsenal takeover: All you need to know about Aliko Dangote’s interest in buying Arsenal

Nigerian Mogul Aliko Dangote has shown serious interest in taking over Arsenal FC. Dangote who is Africa’s richest man has been eyeing Arsenal for the last ten years.

On the Forbes list, Dangote is ranked 201 in the world with a net worth of $11.5Bn. His interest in Arsenal is long-standing, having expressed a desire in purchasing the club as far back as 2011 when he moved to buy Lady Nina Bracewell-Smith’s 15.9% stake. That was eventually purchased by Kroenke.

Dangote on Arsenal

Dangote is an Arsenal fan and hasn’t been shy when talking about Arsenal in the press.

“It’s not about buying Arsenal and just continuing with business as usual,” Dangote 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. Right now, with what we’re facing, over $20 billion of projects, I cannot do both.

“There’s no doubt [I’ll buy Arsenal], it’s not a problem of money.” I’m trying to finish building the company and then after we finish, maybe some time in 2021 we can.

“I’m not buying Arsenal right now, I’m buying Arsenal when I finish all these projects, because I’m trying to take the company to the next level.”

Dangote hinted that he’d start takeover talks once his oil refinery project is completed and he mentioned that he’d launch his bid this year.

Arsenal’s value and Kroenke

As of 2019 Arsenal are valued at $2.2Bn (£1.8Bn) but this may have dropped a bit. So a £2Bn offer could seal the deal.

But Stan Kroenke who fully took over Arsenal in 2018 when he bought Alisher Usmanov’s shares for £550m may refuse to sell Arsenal.

The American who is the CEO of Kroenke Sports & Entertainment began to buy shares in Arsenal in 2007. Kroenke has left Arsenal fans unhappy because of his lack of interest and care in the club.

He earned himself the “silent Stan” nickname because he never gives interviews to the press. Kroenke has hardly invested any funds into Arsenal despite his growing net worth, he instead has continued with his self-sustaining business model.

Arsenal fans would be delighted to see Kroenke out of the club and the possibility of Dangote who is an Arsenal diehard, buying Arsenal is exciting. Gooner’s want an owner that can splash the cash.