Reports have emerged that the wealthiest man in Africa, Aliko Dangote, is set to enter the world of football ownership by purchasing the French Ligue 2 team, Valenciennes FC.

The Nigerian business magnate and CEO of the Dangote Group, who controls 25% of all African billionaires’ fortunes, is said to be finalizing a €10 million transaction for a 60% ownership stake in the club.

Valenciennes FC, established in 1913, boasts a rich history of winning the Ligue 2, the Championnat National, and the Championnat de France Amateur. However, they currently sit in 15th place in Ligue 2 this season, and a purchase by Dangote could potentially revitalize the team by signing top talents and pushing them to new heights.

Dangote had previously attempted to acquire a controlling stake in Arsenal in 2010 but was unsuccessful.

Nevertheless, he is poised to join the ranks of other Nigerian billionaires, such as Kunle Soname and Dozy Mmobuosi, who have invested in European football clubs, with the aim of putting Africa on the global map of football.

Shola Akinlade, CEO of Paystack, who recently purchased a part share in Danish club Aarhus Fremad, expressed his aim of providing opportunities for African talents, which could also be the case for other Nigerian business tycoons given the vast potential in Africa.

If the reports are accurate, Dangote’s foray into football ownership will undoubtedly be a significant step in the right direction.