Arsenal: When Aliko Dangote could actually launch stunning takeover

Africa’s richest man, Aliko Dangote, has been topped to launch a stunning takeover bid at Arsenal this year having tried to assume ownership multiple times from Stan Kroenke for a number of years.

His name, along with many others, has not been mentioned much in the past year for obvious reasons, as the coronavirus pandemic and pushed takeover bids of any kind, understandably, down respective to-do lists.

On the Forbes Rich List, Dangote is ranked 201 in the world with a net worth of $11.5bn. His interest in Arsenal is long-standing, having expressed a desire in purchasing the club as far back as 2011 when he moved to buy Lady Nina Bracewell-Smith’s 15.9% stake. That was eventually purchased by Kroenke.

"“There were a couple of us who were rushing to buy, and we thought with the prices then, the people who were interested in selling were trying to go for a kill,” he said, as quoted by football.london."

When Aliko Dangote could actually launch his stunning Arsenal takeover from Stan Kroenke

"“We backtracked, because we were very busy doing other things, especially our industrialisation. When we get this refinery on track, I will have enough time and enough resources to pay what they are asking for.”"

He has been outspoken on his desire ever since, making public announcements with each passing year. Some bold statements, too.

"“It’s not about buying Arsenal and just continuing with business as usual,” Dangote 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 $20 billion of projects, I cannot do both. “There’s no doubt [I’ll buy Arsenal], it’s not a problem of money.”"

Progress in his other businesses are keeping his plans on track for a 2021 bid, but could it actually happen?

When Aliko Dangote Could Actually Open Arsenal Takeover Talks With Stan Kroenke

On numerous occasions the Nigerian has insisted he will make his move once work had concluded on his oil refinery in Lagos, by which time he will shift his focus to Arsenal.

"“It is a team that yes I would like to buy some day, but what I keep saying is we have $20billion worth of projects and that’s what I really want to concentrate on. I’m trying to finish building the company and then after we finish, maybe some time in 2021 we can,” he insisted. “I don’t want to go after Arsenal until I deliver the refinery. Once I deliver, I will go after Arsenal. I’m not buying Arsenal right now, I’m buying Arsenal when I finish all these projects, because I’m trying to take the company to the next level.”"

Football.london quote an article from The Africa Report, back in June 2020 that states the refinery is due to be up and running in early 2021, which would open the door for talks to begin with Kroenke over the immense takeover. Having signalled his intent so often in the past few years, it will rest on him to stick to his word and follow through. Given the ‘early 2021’ time frame, negotiations would’ve been able to begin in June.

However, this need clarifying. It’s rehashing of an already known story to create a buzz, when in fact is inaccurate in the first place. Nigerian outlet This Day Live have a more recent report from February 2021, which states that the refinery is due to be completed as late as December.

So before everyone gets too giddy, the situation is as it was. There is every chance that Dangote could begin talks with Kroenke this 2021, but not as early as mentioned.

Would Kroenke even sell? He is losing money, that is for sure. According to Forbes, his wealth has dropped from $9.7bn to $8.3bn in the past year (although it’s hardly like he’s going bankrupt). Alisher Usmanov is another man who has tried and failed to take Arsenal off his hands, and the American’s stubbornness is unlikely to have waned.

Kroenke is here to stay for the time being, unless someone pops up with just short of the £2bn it would cost and has a few cases of rare, early vintage wine to sweeten the deal.