Africa’s richest man and Arsenal fan, Ali Dangote, is planning a sensational bid to buy the Gunners within the next three to four years.
The Nigerian commodities giant, worth €10.9 billion (£8.3bn) according to Bloomberg, has revealed his plans to take the club off current owner Stan Kroenke’s hands after initially expressing interest last year.
Dangote, an Arsenal fan since the 1980s, updated Bloomberg on Wednesday of his plan to buy the club after he deals with significant losses this year.
“There’s no doubt [I’ll buy Arsenal], it’s not a problem [of money]”, Dangote told the TV station in New York.
“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.”
The 59-year-old has lost the fourth most of anyone in the world – $4.4b (£3.4bn) – after the depreciation of the Nigerian currency saw stocks in his main venture, Lagos-based Dangote Cement Plc, fall 4.7 per cent.
Despite this, Dangote remains confident that Arsenal will be on his portfolio by 2020.
“It’s not about buying Arsenal and just continuing with business as usual,” said Dangote. “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.”
Dangote would become the Premier League’s first ever club owner from Africa if his plan becomes a reality.
Kroenke, Arsenal’s majority shareholder, owns 67 percent of Arsenal Holdings, according to Bloomberg.
The American multi-sports franchise owner is worth $7bn (£5.3bn) has Uzbek Billionaire Alisher Usmanov for company in the club share structure. The former richest man in Russia, worth $13.4bn (£10.3bn), owns the remaining 23 per cent of the north London club.
Arsenal retain a large fanbase in Africa and have bought a number of players from African countries in recent decades including Nigerian legend Nwankwo Kanu.
Nigeria is Africa’s most populous country – 188m people – and broadcasts Premier League matches on TV channel Supersport, owned by South Africa’s Naspers Ltd.
The country’s love of Arsenal runs from the bottom to the top of society, with Dangote and former Vice-President and influential politician Atiku Abubakar also a proud Gooner.
Arsenal currently have Nigerian presence in the Emirates dressing room with 20-year-old starlet Alex Iwobi, the nephew of Eagles legend Jay-Jay Okocha, who decided to represent the West African country ahead of England.
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