Arsenal reveal £120m Bank of England Covid loan

Arsenal have revealed that they have borrowed £120m from the Bank of England to help them through the pandemic

Arsenal reveal £120m Bank of England Covid loan

Arsenal have borrowed £120m from the Bank of England to help offset losses incurred during the pandemic. It is not intended for transfers

Arsenal have released the following statement: 

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). 

As a result, 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. This is a similar approach to that taken by a wide variety of major organisations across many industries including sport, and is repayable in May 2021.

The CCFF is designed to provide short-term finance at commercial rates during the pandemic to companies that have strong investment ratings and which make significant contributions to the British economy. 

The CCFF is in addition to the loan provided by our owners Kroenke, Sports & Entertainment that enabled us to refinance the debt on Emirates Stadium in August last year.


NEW! Subscribe to our weekly Gooner Fanzine newsletter for all the latest news, views, and videos from the intelligent voice of Arsenal supporters since 1987.

Please note that we will not share your email address with any 3rd parties.


Article Rating

Leave a comment

Sign-in with your Online Gooner forum login to add your comment. If you do not have a login register here.