Why Arsenal Must Demonstrate Caution over Aliko Dangote Interest in Buying Club

The most wealthy man in Africa, Aliko Dangote, has expressed interest in eventually launching a bid to take over Arsenal. At one time, the interest of a rich and passionate fan would have been welcomed. However, in a post-financial-fair-play era, the impact someone like Dangote could make is significantly reduced.

Currently, Arsenal are owned by American sports tycoon Stan Kroenke, while Uzbek billionaire Alisher Usmanov holds around 30 percent of the club’s stock and is seemingly unwilling to part with his stake.

Both men have caused a degree of irritation among the Arsenal fanbase. Usmanov has been outspoken and critical of the club’s performances on the field, whereas the problem with Kroenke is almost the inverse: He is too quiet. He didn’t get his "Silent Stan" nickname for nothing, and there is a sense that he is too distant from the club, merely happy to let them continue qualifying for the top four without sanctioning the investment required to challenge for major honours.

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Most recently, he prompted ire among several supporters groups when his company, KSE LLC, took a £3 million dividend out of Arsenal’s accounts, despite the fact he has never withdrawn any money from his American franchises.

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Dangote is not an entirely uncontroversial figure, either. According to Jack Lang of the Mirror, he has been criticised in his native Nigeria for receiving preferential treatment from government authorities.

However, he is an Arsenal fan, and that would stand him in good stead with the Emirates crowd. The hope would be that he would have more emotional reasons for investing in the club and would drive Arsenal on toward the success the supporters crave.

Speaking to Bloomberg (h/t the Guardian), Dangote reiterated his desire to seize control of the club he loves:

"

I still hope, one day at the right price, that I will 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.

We have $16bn-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. 

"

However, the era of a Roman Abramovich-figure arriving and pumping money in to the club is gone. Financial fair play effectively means the club must exist within its own means. Even if Dangote did buy Arsenal, it would not dramatically change the spending patterns at the club.

Sunday Alamba/Associated Press

His presence could also destabilise a club who are finally returning to a sure footing after the tempestuous years following the move to the Emirates Stadium. Dangote has been publicly critical of manager Arsene Wenger, telling Bloomberg: “He [Wenger] needs to change his style a bit. They need new direction.” 

At a time when Wenger seems on the verge of assembling a team who could restore Arsenal to a position as legitimate title-challengers, the arrival of an owner with doubts about his capabilities could cause unnecessary tension. Despite the initial appeal of having a fan in charge, the interest of Dangote is not something Arsenal fans should be too quick to welcome.

James McNicholas is Bleacher Report's lead Arsenal correspondent and is following the club from a London base throughout the 2014-15 season. Follow him on Twitter here.