True or False? Africa's richest man to buy Arsenal

We have $16 billion-worth of investments in the next few years. Right now I want to take my own business to a certain level. Once I finish on that trajectory, then maybe [an offer will follow.]"

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Aliko Dangote play

Aliko Dangote

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Africa’s richest man, Aliko Dangote has revealed his interest to buy English Premier League side, Arsenal FC.

According to the Nigerian billionaire he is ready to offer the owners of Arsenal "a price they won't want to resist."

“I still hope, one day at the right price, that I’ll buy the team. I might buy it, not at a ridiculous price but a price that the owners won’t want to resist. I know my strategy,” Dangote told Bloomberg.

Mr. Dangote however, noted that the plan to buy the North London club is not an immediate priority.

Dangote first made a bid to buy the English club in 2010 but discussions broke down.

According to the Bloomberg Billionaires Index, Dangote is worth three times more than the current major shareholder at Arsenal, Stan Kroenke.

Kroenke, who holds 67 percent of Arsenal, is reportedly worth $5.6 billion while Dangote is valued at $15.7 billion.

But Dangote will have to convince Kroenke to give up his 67 percent shares of Arsenal as well as 30 percent owned by Red and White Sec Limited under the control of Uzbek billionaire Alisher Usmanov and Farhad Moshiri.

Dangote is a tycoon in cement and commodities in Nigeria and Africa.

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