Dangote to Bid for Arsenal

Fri, Jun 19, 2015
By publisher

Sports Briefs


ALIKO Dangote, Nigerian and African richest man, is still interested in buying Arsenal football club of England. Dangote disclosed this while speaking to the BBC on Wednesday, June 17, saying the Gunners need new ownership if they are to progress in the Premier League.

Dangote, 58, believed to worth $15.7 billion has for long, shown interest in buying the club, wants to help the club back into the race for the Premier League title by taking over as owner. But he does not want to bid for club now until he has finished the refinery he is building in Nigeria.

“They are doing well, but they need another strategic direction. They need more direction than the current situation, where they just develop players and sell them,” Dangote said.

American businessman Stan Kroenke currently holds a 67 percent stake in Arsenal, while Red and White Holdings, backed by Alisher Usmanov, Russian business magnate has 30 percent.

Dangote was linked with an approach to buy a stake in the club in 2010, before he pulled out, but now believes that the building of an oil refinery in his homeland would give him the funds to return with a new offer.

— Jun 29, 2015 @ 01:00 GMT