Club join Spurs and FA in taking short-term loanMesut Özil’s future will be decided in ‘the next few days’Arsenal have taken out a £120m loan from the Bank of
England in an effort to ease cashflow issues that have mounted during the Covid-19 pandemic.
The loan, which must be paid back by the end of May along with an undisclosed sum of interest, is designed to cover losses and will not have any impact on Mikel Arteta’s winter transfer plans. It has been provided by the bank’s Covid corporate financing facility, which assists organisations that meet highly specific investment criteria and are deemed to make significant contributions to the
economy.
Tottenham Hotspur and the
Football Association are the only other football institutions to have made use of the scheme.