Kroenke Sports & Entertainment are set to help Arsenal pay back the £120m loan they previously took out from the CCFF later this month.
As Arsenal themselves confirmed in January, the club took out a short-term loan from the Covid Corporate Financing Facility after demonstrating they’d met the criteria set by the Bank of England.
The £120m loan was used for the day-to-day running of the club, including paying wages, and cancelling contracts early. Arsenal have confirmed to Football.London that they’ll pay it back this month, unlike Spurs, who are extending the terms of the loan.
Football.London add that Kroenke Sports & Entertainment are set to intervene to help the club afford to pay back the loan. Obviously, Arsenal are still yet to host any fans at the Emirates Stadium, so their immediate financial situation remains tricky.
Though the loan was at a very low interest rate, only half a percent, Arsenal will need the help paying it back while they don’t have any matchday income.
After the Super League mess and with KSE publicly committing themselves to the club, many fans will view helping to pay off loans as the least they could do.