Speaking in an interview with Bloomberg TV in New York on Wednesday, Dangote said not buying the club now, has nothing to do with money.
Dangote told Bloomberg Television:
“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.
“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. Right now, with what we’re facing, over $20 billion of projects, I cannot do both.”
Dangote whose net worth was about $10.9 billion has lost £3.3billion this year due to the falling value of the Nigerian currency, which brought his worth to £8.3billion
American businessman and billionaire Stan Kroenke presently have a major share of 67 per cent of Arsenal Holdings.
And under company law, Kroenke as a major shareholder of Arsenal Holdings can make an offer for the remaining shares owned by rivals, Red & White Holdings, owned by Russian billionaire Alisher Usmanov as well as shares of former players and the club’s supporters trust.
However, should Dangote succeeds in his bid to buy Arsenal as projected in three to four years, he will become the first African from the sub-Sahara to own a club in the Premier League.
Meanwhile, the U.S. Chamber of Commerce, in a show of further commitment to collaboration by the business communities in the United States and across Africa,has named Aliko Dangote, as the co-chair of its U.S.-Africa Business Center.
58-year-old Dangote will serve alongside Jay Ireland, president and CEO of GE Africa, as a leader for the U.S.-Africa Business Center Board of Directors.