Arsenal have repaid a £120 million loan to the Bank of England after making use of the Covid Corporate Financing Facility (CCFF) to provide liquidity during the pandemic.
While we couldn’t use the money to buy new players during the last transfer windows, it looks as though we did use some cash to pay off high-profile departures, including Shkodran Mustafi and Sokratis.
The low interest on the loan – reported to be around £600,000 in total – made the terms particularly attractive even though we knew it was going to have to be paid off by May.
How did we repay it? That’s not entirely clear at this point. Either KSE stuck their hands down the sofa and paid it off with some spare change or, as The Athletic reports, we’ve taken out another loan from elsewhere, presumably on less favourable terms.
CCFF loans have been provided to a variety of different businesses in the last year with Sp*rs, Boots and Easyjet all getting involved.
In total, more than £18.8bn has been lent to 55 businesses.