Dangote plans to own Arsenal FC in 3years time
Sat Sep 24, 2016 07:18:am Sports
3.8K By Buchi Obichie
Nigeria's richest man, Aliko Dangote, still nurtures his plan to acquire
Arsenal FC. The Nigerian reportedly worth $10.9bn says he plans to take
over the club by the end of the decade.
Dangote stated last year that he was prepared to pay any sum to take ownership of the Premier League club away from Stan Kroenke.
Dangote, a lifelong Arsenal fan whose fortune is largely tied up in Dangote Cement, is reported to have lost $4.4bn this year due largely to the depreciation of Nigeria's currency
Despite this however, the 59-year-old businessman says he still plans to complete a takeover of the Gunners before the end of the decade once his latest ventures in gas pipelines and an oil refinery have developed.
When asked when he intended to buy the club, in an interview with Bloomberg TV, Dangote said, "Maybe three to four years."
Speaking further he said, "The issue is that we have more challenging headwinds. I need to get those out of the way first and start having tailwinds. Then I'll focus on this."
Dangote believes his success in the business world proves he is the right man to transform Arsenal's fortunes, after years of relative stagnation under Kroenke and manager Arsene Wenger.
"It's not about buying Arsenal and just continuing with business as usual," he 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 20billion dollars of projects, I cannot do both."
Dangote stated last year that he was prepared to pay any sum to take ownership of the Premier League club away from Stan Kroenke.
Dangote, a lifelong Arsenal fan whose fortune is largely tied up in Dangote Cement, is reported to have lost $4.4bn this year due largely to the depreciation of Nigeria's currency
Despite this however, the 59-year-old businessman says he still plans to complete a takeover of the Gunners before the end of the decade once his latest ventures in gas pipelines and an oil refinery have developed.
When asked when he intended to buy the club, in an interview with Bloomberg TV, Dangote said, "Maybe three to four years."
Speaking further he said, "The issue is that we have more challenging headwinds. I need to get those out of the way first and start having tailwinds. Then I'll focus on this."
Dangote believes his success in the business world proves he is the right man to transform Arsenal's fortunes, after years of relative stagnation under Kroenke and manager Arsene Wenger.
"It's not about buying Arsenal and just continuing with business as usual," he 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 20billion dollars of projects, I cannot do both."
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