Nigerian Billionaire Dangote linked to Arsenal bid

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Nigerian businessman, Aliko Dangote is said to be planning to enter the race and has registered his interest in buying a 16 per cent stake in Arsenal.

Dangote is an estimated £2.5billion and is keen to purchase the shareholding of the club’s fourth largest investor Lady Nina Bracewell-Smith, who has expressed her desire to sell up, according to reports.

According to the Metro Newspaper, the move could spark a takeover battle for Arsenal, with other contenders including its two biggest current investors – Stan Kroenke and Russian oligarch Alisher Usmanov – who would be forced to launch a full takeover bid for the club if they secured the stake.

Dangote is thought to be a passionate football fan and has the wealth to go head-to-head with Kroenke and Usmanov in a battle for control of the north London club.

He has stood for the role of president of the Nigerian football association and is believed to have donated cash to the Nigerian national team.

The industrialist founded manufacturing empire Dangote Group and was formerly head of the Nigerian stock exchange.

Finance house Blackstone is now thought to have placed him on the shortlist to buy the Arsenal stake.

Lady Bracewell-Smith is said to be seeking £160m for her stake after putting it up for sale earlier this year.

In 2008, Forbes, the influential American magazine, named Dangote the richest African on their list of the world's richest persons yearly. Forbes was also said to have approached Dangote to feature him on their cover for this billionaire list edition which he politely declined.

This year, Alhaji Aliko Dangote, Nigerian born billionaire commodity merchant, industrialist again features on Forbes list of the world richest men alive, released in March.

More recent information however indicates that the billionaire denied interest in the Arsenal investment. According to an article published by football.co.uk, Dangote states: 'I am a longstanding supporter of Arsenal Football Club and have been involved in conversations around investment in the past,' Dangote said.

'However, I can say categorically at this time that I have no intention of investing in the club and will not be acquiring a stake. I wish Arsenal Football Club the best for the future and will continue to follow the team as a fan.'