Aliko Dangote, the CEO of the Dangote Group and Africa’s richest man, is reportedly in advanced talks to acquire a 60 percent stake in French Ligue 2 team Valenciennes.
The Dangote Group is the largest industrial conglomerate in Africa, and the company had previously shown interest in acquiring Premier League team Arsenal, though the deal never materialized.
Valenciennes, founded in 1913, is based in the northern region of France and currently plays its home games at the Stade du Hainaut. The team has spent 40 seasons in Ligue 1 and 36 seasons in Ligue 2, winning the Ligue 2 championship twice but never claiming the Ligue 1 championship.
If the deal goes through, Dangote would be the latest African businessman to invest in European football.
Last year, Nigerian oil magnate, Benedict Peters, purchased a 90 percent stake in FC Rostov, a Russian Premier League club. Similarly, in 2018, Moroccan businessman Anas Sefrioui bought the Spanish third-division team, CF Villanovense.
The acquisition of Valenciennes by Dangote would boost the team’s financial position, providing them with the resources to attract top talents and compete more effectively in the French leagues.
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