Nigerian billionaire Aliko Dangote has confirmed his intention to launch a bid to buy Arsenal in the near future.
Having made a fortune in cement, sugar and flour, Dangote is richer than Arsenal's current majority shareholder Stan Kroenke as well as Chelsea's Roman Abramovich.
Now he wants to spend a large chunk of his fortune, not on improving the fortunes of the tens of millions that lie stricken in poverty in his homeland, but in turning Arsenal into a dominant European force.
The 58-year-old, who is worth £10.3 billion and has been named Africa's richest man by Forbes, approached the Gunners over a potential takeover bid in 2010 before withdrawing his interest.
His interest has not curtailed and he has announced that he plans to make another offer to take over the club once he is finished businessing around.
"I still hope, one day at the right price, that I'll buy the team," Dangote told Bloomberg Business. "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 [£10.5bn] 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 [an offer will follow]," he continued.
Dangote is an Arsenal fan but has criticised Arsene Wenger, claiming that the 65-year-old "needs to change his style a bit" and warning that the club "need new direction".
Theo Walcott caused a stir last night after appearing to tweet whilst also sitting on the bench during Arsenal's 3-1 win over Hull City.
The England international appeared to send a message of two 20-somethings with the hashtag #gaylords.
Unsurprisingly, it turned out that Walcott did not send the tweet, later suggesting that his account had been hacked.
However, had you gained access for Walcott's account, why would you then choose to send such a mundane message? Something tells us that someone of Walcott's PR team has woken up unemployed.
Even MORE news
Cesc Fabregas joins Chelsea. Ouch, Arsenal fans. Cesc Fabregas wins his first Premier League title with Chelsea on the first time of asking. Even more ouch, Arsenal fans. Cesc Fabregas then declares that Jose Mourinho is the best manager he has ever worked with. It's a knockout.
Fabregas may have pined for a return to his former club last summer, but he will be having few regrets about making the controversial move to Stamford Bridge.
The Spaniard said: "He knows how to manage a team and how to get the best from you. That’s what you want from a manager, 100 per cent. He can motivate a player every three days — not easy when you play 60 games a season, trust me.
"Everyone thinks that we have a big squad, but we don’t. We’ve used 22 players, some of them from the under-21s, so it’s not easy and he actually is doing a fantastic job.
"He just loves winning. I’m not saying other managers I’ve played under don’t, but he has some edge that goes above anyone else I have ever been with. The mentality shows in every single training session or game. I now understand why he has won what he has won in his career."