Arsenal have announced they are to receive a £120million loan from the Bank of England amid the financial strain of the ongoing Covid-19 pandemic.
The Gunners are feeling the pinch with fans once again absent from the Emirates following a short period of 2,000 spectators being allowed to attend matches.
Arsenal's wage bill is among the highest in the Premier League, with outcast Mesut Ozil their highest earner on £350,000-a-week.
In a statement, 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).
"As a result, we are taking a short-term £120million 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."
On the pitch, the club has enjoyed an upturn in fortunes in the last couple of weeks, picking up three successive Premier League victories.
They host Newcastle at the Emirates in the FA Cup third round on Saturday evening.
