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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 (CCCF), 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.