SPORTS BUSINESS: Dangote to buy french football club for 10 million euros

Nigerian billionaire, Aliko Dangote is reportedly in talks to acquire a 60% stake in French Ligue 2 team Valenciennes FC, for a reported fee of €10 million.

Dangote, the CEO of the Dangote Group and richest man in Africa, is said to be keen on investing in the club, which has a long history of success in French football, but currently sits 15th in Ligue 2.

Africa Report revealed the acquisition by Dangote, who is ranked as the 86th richest man in the world, could potentially rejuvenate the club, by signing new players and revitalizing the team as a whole.

Read also:Dangote Sugar pays N18.22bn dividends, to produce 170,000 tonnes next season

Similarly, Nigerian billionaire Dozy Mmobuosi is reportedly in talks to acquire English Football League team Sheffield United for £90 million.

Dangote’s mode of acquisition will be similar to how Shola Akinlade, CEO of Paystack, purchased Danish club Aarhus Fremad.

Akinlade became the Danish club biggest shareholder by buying 55 percent stake but the value was not disclosed.

If reports are accurate, Dangote’s acquisition will suggest a growing trend of Nigerian billionaires investing in sports.

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