Arsenal have announced they have taken out a £120million loan from the bank of England to help cover the costs of the coronavirus pandemic. Some Gunners fans, however, believe the loan means new signings are coming.
Arsenal have taken out a hefty loan to cover the costs suffered during the coronavirus pandemic.
The Gunners confirmed on Thursday that they had met the criteria set out by the Bank of England for the Covid Corporate Financing Facility.
The loan will cover some of the funds Arsenal lost as a result of not having fans at the Emirates for almost a year.
Arsenal were able to have fans in attendance for two games in December due to Covid restrictions, with 2,000 supporters allowed in for games against Burnley and Rapid Vienna.
As a result, the club has lost a significant amount of money through matchday revenue.
Clearly, the club felt the best way to compensate that was to take out a loan from the Bank of England, a loan the club states will run alongside its existing loan from owner Stan Kroenke’s Sports and Entertainment group.
But some supporters believe the loan is a secret ploy to fund transfer activity in the January window and beyond.
Arsenal are expected to be fairly quiet in the January window and look to offload players unwanted by the club.
But a new creative midfielder is still on the agenda, with Mesut Ozil set to depart.
The £350,000-per-week playmaker has been tipped to join either Fenerbahce or DC United.
But Arsenal fans believe more big names could be coming through the door, with some even joking the loan will fund a bid for Paris Saint-Germain star Kylian Mbappe.
One fan replied to Arsenal’s tweet about the loan writing: “£120m? Now buy Grealish.” while another replied: “GREALISH. NOW.”