Aliko Dangote is a name that is easily recognisable across Nigeria owing to his $14.2 billion fortune according to Forbes, which makes him the richest man in Africa and the 83rd richest man in the world.
The Kano-born billionaire earns his fortune from heading the Dangote Group conglomerate that is involved in the production and distribution of commodities such as cement, salt, sugar, flour, steel, oil and gas among others, giving his company massive leverage that other Nigerian billionaires do not have.
It is common to see wealthy business people go into other ventures outside of their primary venture and sports is a very common place they make investments as popularly seen by professional American sports teams which operate as franchises.
Dangote has been interested in owning football clubs, most notably Arsenal which he has declared interest in for more than a decade. The 65 -year-old industrialist is reportedly interested in buying the majority stake in French second-tier club Valenciennes who last participated in the French Ligue 1 in 2014.
#Football : l’homme le plus riche d’Afrique va racheter le club de #Valenciennes (#VAFC).https://t.co/e1FApRf0fc
— Entreprendre (@Entreprendre) April 23, 2023
While it is an exciting prospect to see Dangote own a foreign football team to build Nigeria’s global footprint in the manner Kunle Soname and Shola Akinlade have done in owning Portuguese club Feirense and Danish club Aarhus Fremad respectively, it begs to ask and ponder why Dangote has not shown interest in investing in a Nigerian football club.
Soname and Akinlade already own Remo Stars and Sporting Lagos who participate in the Nigeria Premier Football League and Nigeria National League respectively and have made headway operating in a more professional manner, something that has been lacking in Nigerian football for much of its existence or at least in recent history where there is minimal effort to improve the image of the game on a general scale.
This is where Dangote can come in as he has the leverage and influence to make a huge difference in the game with whatever stakes he owns, thanks to his massive business empire. Dangote has been involved in some sports projects such as footing the bill to rehabilitate the Moshood Abiola Stadium in Abuja and occasionally offering cash rewards to the Super Eagles for any good performance in a major tournament.
Some might be displeased with Dangote using his wealth to improve the status of a foreign club rather than a local one, just like Nigerian billionaire Dozy Mmobuosi and his proposed takeover of Sheffield United who have gained promotion to the Premier League next season.
These wealthy men are, however, not necessarily to be blamed for their ambitions.
Nigeria's 38-year-old Shola Akinlade has bought Danish club, Aarhus.
He is the CEO of Paystack.
Nigeria's Kunle Soname owns Portuguese club, CD Feirense.
Nigeria's Nneka Ede owns Portuguese club, Lusitano Ginasio.
Nigeria's Dozy Mmobuosi wants to buy UK club, Sheffield Utd. pic.twitter.com/p0vedZtMpM
— Africa Facts Zone (@AfricaFactsZone) March 29, 2023
As a business person, one would want to invest where returns are guaranteed and profitability can be maximised. That is difficult in Nigeria where the sports system is not well-structured.
The aforementioned Soname and Akinlade might have been able to take the risk by delving into Nigerian club ownership but it comes with a huge operational cost that might not yield desired returns.
Clubs like FC Ifeanyi Ubah and Mountain and Fire and Miracles Ministries FC were all privately-run but have now become defunct or absolved into another team.
A look at a club like Mamelodi Sundowns owned by South African billionaire and President of the Confederation of African Football, Patrice Motsepe is a clear example of how club ownership can flourish.
The Pretoria-based outfit are the most successful team in the history of the South African Premier Soccer League with 13 titles and they have shown their weight in CAF Champions League with success in 2016. All these are possible because the South African football system is well-structured.
Such should be the story of club ownership in Nigeria but it will only be possible when the right structures are in place. When that happens, there might be better interest in owning even more local football clubs but until then, Dangote might focus his attention on owning more foreign clubs beyond Valenciennes.
Valenciennes are currently 15th in the French Ligue 2 table, with three points above the relegation zone.
