Arsenal are the most profitable club in Premier League history despite falling behind their rivals on the pitch — but a mooted takeover could propel them back to the top.
That is according to finance guru and new Football Insider columnist Kieran Maguire, speaking exclusively after Football.London reported that Nigerian billionaire Aliko Dangote may soon open talks with Stan Kroenke over an Arsenal takeover.
Dangote is Africa’s richest man — worth over £12billion according to Forbes — and has long held an interest in owning a controlling stake in the North London club.
The 63-year-old planned to turn his attention to purchasing the club once his investment company had finalised the construction of a Lagos-based oil refinery.
According to the Africa Report, that oil refinery is set to be operational in early 2021, which could mean takeover talks are imminent.
Maguire questions the ambition of Kroenke and claims that a “sugar daddy” like Dangote could transform the club into a trophy-winning machine once more.
He told Football Insider correspondent Adam Williams: “Based on my analysis, Arsenal are the most profitable club in the history of the Premier League since it started in 1992. They are 1st and Spurs are 2nd. But there’s no trophy for winning the most profitable club.
“If I was an Arsenal fan, I’ be asking myself if those profits could have been allocated elsewhere in terms of the club’s budget.
“Arsenal have very much fallen behind the other members of the big six in their commercial revenue streams and TV money because they’re not qualifying for the Champions League anymore. Stan Kroenke has run the club with a tight budget which has delivered profits but not trophies.
“Arsenal fans will welcome anyone who comes in who is rich. Kroenke is rich, ridiculously rich, but what he’s not prepared to do is to allocate his wealth to the football club. Arsenal fans will hope Dangote is rich and a sugar daddy.”
Kroenke has been formally involved with Arsenal since 2007.
He has incrementally increased his shareholding in that 14-years period and is now the club’s outright owner.