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Dangote Says He’ll Buy Another Club If Kroenke Is Not Ready To Sell Arsenal

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Aliko Dangote

, Africa’s richest man, had said he will consider buying a football club other than London-based if controlling shareholder Stan Kroenke refuses to sell.

Dangote has long said he wants to buy the team, of which he’s a fan, but only after he’s completed one of the world’s biggest oil refineries in Lagos.

“By the time we’ve finished, we’ll be a $30bn company in terms of revenue,” he said in an interview with TV at the New Economy Forum in . “We’ll have an excess amount of cash to start playing around with.”

Kroenke owns almost all of Arsenal after buying Russian billionaire Alisher Usmanov’s 30 per cent stake in August in a deal that valued the club at about £1.8bn. It was funded with a £557m , two-year loan from Deutsche Bank AG. The 71-year-old American is worth $8bn, according to the Bloomberg Billionaires Index, and also controls the National Football League’s Los Angeles Rams.

“I’m very attached to Arsenal but if he won’t sell, I might have to change,” said Dangote, 61 years old and worth $11.1bn. “I’m very much a fan of football. I have to have a club. I don’t have to own Arsenal.”

The refinery is scheduled to start producing fuel in early 2020, and Lagos-based Dangote Cement Plc will probably be listed in London around September next year, he told Bloomberg.

Olaleye George

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