Arsenal have borrowed £120million from the government via a scheme created to support significant businesses facing cash flow problems during the coronavirus crisis.
The Gunners are taking the loan to assist in managing the impact of the revenue losses occurred during the coronavirus pandemic, with north London rivals Tottenham taking out a £175million from the Bank of England too.
We spoke to football finance expert Kieran Maguire who gave us the lowdown on what the loan means for Arsenal and responded to some of your key questions on social media.
The loan will have to be paid back by the end of May along with an undisclosed sum of interest, but it won't have any impact on Mikel Arteta's winter transfer plans as the club look to sign a creative midfielder this month.
Other major companies using the Covid corporate financing facility include British Airways, John Lewis, Burberry and the Football Association.
Can they use the money on transfers and will it impact their transfer activity?
In theory, they could use the money on transfers but I don't think the loan will impact upon Arsenal's activity in the transfer market. First of all, the Bank of England loan is aiming to replace lost revenue from day to day activities rather than fund capital purchases.
Secondly, from a PR perspective it would be a huge mistake to take this money and use it to fund acquisitions on a expensive player.
The backlash not only from fans of other clubs and some Arsenal fans themselves would be difficult to take.
Given that there's a lot of political pressure on the Premier League at present I think there would also be lots of unhappy voices from politicians and other clubs.
What's happened with FFP (Financial Fair Play) and will it be abandoned for a period to allow clubs to get back to normal?
It's not going to be abandoned altogether, but its going to be relaxed. The fear is if they abandoned it then mega-rich owners like Chelsea's Roman Abramovich could write out a cheque for £500m this summer.
UEFA have said the losses are going to be spread over two years. The Premier League are going to ask for evidence of the money lost which will be taken into consideration.
If Stan Kroenke put is own money in would he be in breach of Financial Fair Play rules?
Owners can put in as much money as they desire. [Roman] Abramovich put in £250m into Chelsea last year in the form of shares.
For FFP purposes only the first £30million per season counts. Anything above that is fantastic.
What do the fans think?
Tim Payton of the Arsenal Supporters' Trust told football.london that the decision to take a loan is a "sensible" move at a time where losses are having a huge impact throughout the game.
"This is a sensible move by Arsenal and one that the AST predicted. No fans has a huge impact on cash flow and we predict losses of £200m over two seasons.
"Clearly over the medium term the club has to work on rebalancing it’s finances including reducing a wage bill that at £240m is far too high."
