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Africa’s richest man has outlined his intentions to buy Arsenal from current majority shareholder Stan Kroenke and has revealed one of his first pieces of business would be to dismiss Arsene Wenger from his role.
60-year-old Aliko Dangote, who made his fortune in commodities, told Bloomberg he plans to make a move to purchase the North London giants after the construction of a $11bn oil refinery in Lagos is complete and stated he believes it’s time for a new manager.
“The first thing I would change is the coach. He has done a good job, but someone else should also try his luck.”
The new is the first piece of indication to suggest that a vast power battle to take control of Arsenal will go ahead in the next few years, with Russian billionaire Alisher Usmanov, who already owns a 30% stake, launching a takeover bid earlier this year.
The news is the first piece of indication to suggest that a vast power battle to take control of Arsenal will go ahead in the next few years, with Russian billionaire Alisher Usmanov, who already owns a 30% stake, launching a takeover bid earlier this year.
Kroenke, who owns a majority 67% share in Arsenal, insisted he has no plans of selling and intends to remain in North London for the long-term. However, his commitment has regularly been questioned by sections of the supporters.
Dangote is not put off by that though and believes he can persuade both the American owner and Usmanov himself into a sale, as he added:
“If they get the right offer, I’m sure they would walk away. Someone will give them an offer that will make them seriously consider walking away. And when we finish the refinery, I think we will be in a position to do that.”
As per Forbes, Aliko Dangote has a net worth fortune of $13.5bn. He is the founder and chairman of Dangote Cement, the largest cement producer of the African continent. Through a holding company, he owns around 90% of Dangote Cement.
This company is estimated to produce over 44m metric tons of cement each year, and they plan to increase their production by more than 30% by the year 2020. Dangote, the CEO, also owns stake in publicly traded companies that trades flour, sugar, and salt.
The self-proclaimed Dangote will become the first ever African owner of a club in the English Premier league if his bid for a takeover is successful. This year, he has lost more than 4bn due to the sudden depreciation of the Nigerian currency. Currently, he is attempting to improve his finances before making any move to buy Arsenal. He mentioned:
“It’s not about buying Arsenal and just continuing with business as usual. 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.”
Dangote is currently ranked at the 67 position on the list of Forbes richest man. He is worth more than Usmanov and Kroenke. He reckons that after the completion of his Nigerian oil refinery, he will have enough resources to pay for what the club is asking.
