He said he wished he had bought the English side club when the team was valued at around $2 billion.

Speaking in an interview with Bloomberg’s Francine Lacqua in New York, the billionaire business mogul explained that he missed out on buying Arsenal by committing his resources to the refinery project.

He said, “I think that time has passed. The last time when we had this interview, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal.

“But you know everything has gone up and the club too is doing very well, Arsenal is doing extremely well right now. That time Arsenal wasn’t doing well.

“I think I don’t have that kind of excess liquidity to go and buy a club for $4 billion so to speak and use it as a promotional something.

“But what I will do is to continually be the biggest fan of Arsenal. I watch their games anytime they are playing. So, I will remain a major supporter of Arsenal but I don’t think it makes sense today to buy Arsenal.’

Dangote had in 2020 made known his intention to go for the North London club after his refinery project.

The richest man in Africa, who has now rested his ambition to take over at Emirates Stadium, founded the Dangote Group — the largest conglomerate in West Africa — in 1981