Nigeria: Aliko Dangote, Set To Buy Arsenal As Soon As The Naira Stabilizes..(Read Details)

The Africa’s richest man had his approach rejected having explored the possibility of purchasing the club in 2010.But the 59-year-old Nigerian business owner admits that while he wants to buy Arsenal as soon as possible, he must wait for the Nigerian currency to stabilize.

Speaking to Bloomberg, Dangote said,“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.”Dangote Cement Plc’s stock is down 4.7 per cent on last year, meaning that Africa’s richest man has lost £3.3bn due to the falling price of Nigerian currency.“It’s not about buying Arsenal and just continuing with business as usual,” he added.“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 Worth of projects, I cannot do both.”The discussion will come as welcome news to Arsenal supporters, who have been public in their criticism of current owner Stan Kroenke following a trophy-less season and a poor summer transfer window.The Gunners last Premier League title came back in 2004 and having only won two FA Cups since, a large section of Arsenal’s support have grown disgruntled with both Kroenke and manager Arsene Wenger.