Aliko Dangote, a billionaire Nigerian industrialist, is one of the bidders for the 16 per cent stake in Arsenal being sold by Lady Nina Bracewell-Smith. He certainly has the readies, as Forbes magazine has ranked him among the world’s 500 richest people, with a fortune estimated at £1.7 billion.
Aliko Dangote, a billionaire Nigerian industrialist, is one of the bidders for the 16 per cent stake in Arsenal being sold by Lady Nina Bracewell-Smith. He certainly has the readies, as Forbes magazine has ranked him among the world’s 500 richest people, with a fortune estimated at £1.7 billion.
It is thought that about 10 bidders have made the shortlist. There has been interest from Asia, the Middle East, Eastern Europe and America. The shares are expected to attract a price of £15,000 a share, against a current market price of £10,000.
In theory one could end up with three different foreign owners owning almost three-quarters of the club if Dangote was successful. However, American sports franchise owner Stan Kroenke may well win out. That would give him almost 46 per cent of the shares and he would be obliged to launch a full bid for the club. That would also apply to Alisher Usmanov if his investment vehicle was successful.
In any event we are likely to know by June 22nd as changes to capital gains tax rules in the emergency budget would be almost certain to reduce the profit on the sale. The ownership of Arsenal could then be decided in the summer. Fans’ bodies have said they would prefer a multiple ownership structure to be retained, but from their perspective, Kroenke in charge would be the least bad outcome.