Africa’s richest man, Aliko Dangote, will require £2 billion (N940 billion) to buy out Stan Kroenke’s stake in Arsenal. That’s about 20 percent of his $15 billion (N4.6 trillion) worth, according to Bloomberg Billionaire Index.
Bob Ratcliffe, a brother to Jim Ratcliffe, one of Britain’s richest men, said it would cost around £2 billion to buy Arsenal.
Bob, who is head of the division of Ineos which owns Nice football club, told the Financial Times’ Business of Football Summit that a takeover of a ‘top six’ club would cost at least £2 billion, but a move for a team elsewhere in the Premier League would cost between £150 million and £350 million.
Dangote has been linked with Arsenal in recent times, with reports quoting him as stating he would be pursuing a takeover of the club which is one of the Premier League’s big sides.
The Nigerian billionaire has made several statements in the past about his desire to become the owner of the North London club.
A consistent Arsenal fan, Dangote told Francine Lacqua, an anchor on Bloomberg TV in London in 2017, “I don’t change clubs. Even when Arsenal isn’t doing well I still stick by them. It’s a great team, well-run. It could be run better, so I will be there.”
Dangote has said he is focusing on other interests at the moment, but is targeting next year as a possible date to launch his bid for the club.
“It is a team that, yes, I would like to buy some day, but what I keep saying is we have $20 billion worth of projects and that’s what I really want to concentrate on. I’m trying to finish building the company and then after we finish, maybe some time in 2021 we can,” Dangote said in January.
“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,” he said.
According to Bloomberg Billionaire Index, Dangote became $4.3 billion richer in 2019 as he ended the decade with a net worth of almost $15 billion, making him the 96th wealthiest man in the world.
Dangote founded and chairs Dangote Cement, the continent’s largest cement producer. He owns nearly 85 percent of publicly-traded Dangote Cement through a holding company.
Dangote Cement produces 45.6 million metric tonnes annually and has operations in 10 countries across Africa. Dangote also owns stakes in publicly-traded salt, sugar and flour manufacturing companies.
Dangote Refinery has been under construction for three years and is expected to be one of the world’s largest oil refineries once complete.
has the financial power to buy Arsenal and will make the move at the right time.
