Arsenal have taken a £120 million ($160m) loan from the Bank of England to help ease cashflow issues brought on by the coronavirus pandemic.
The loan has been provided by the bank’s covid corporate financing facility (CCCF) and must be repaid by May, along with an unspecified amount of interest.
Arsenal’s north London rivals Tottenham took advantage of the scheme last summer, borrowing £175m ($240m), while the Football Association also used it to borrow the same amount in December.
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In a statement, Arsenal said: “We are taking a short-term £120 million loan through this facility to partially assist in managing the impacts of the revenue losses attributable to the pandemic.