Arsenal take out £120,000,000 Covid relief loan from Bank of England

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Arsenal FC have revealed that the club has applied for and been accepted for a Bank of England COVID loan to the sum of £120,000,000.

In a statement on their website the club said: ‘As we continue to work through the implications of the global pandemic on our finances, we can confirm today that the club has met the criteria set by the Bank of England for the Covid Corporate Financing Facility (CCFF).’


The Gunners have been feeling the pinch of the financial strain that Covid has brought on professional football as fans have been unable to attend games for several months.

The North-London club has one of the highest wage bills in the Premier League with their highest earner being exiled midfielder Mesut Ozil who rakes in a tasty £350,000-a-week.

Arsenal are trying to offset that financial burden by selling Ozil in the January transfer window which will save the Gunners £8.75 million this year alone.

According to The Sun Arsenal fear that Mesut Ozil won’t leave the club in the January transfer window and will instead opt to stay at the club to collect the £8.75 million he will get in wages between now and the end of June.

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