“It’s Arsenal’s money to play.” Analyst says Arsenal have plenty of money for transfers

Football Insider financial analyst and columnist Kieran Maguire has said Arsenal has money to spend on players this summer.

The Gunners need to strengthen their squad after missing the Premier League top seven this season.

This means they won’t be playing European football in the next campaign as they continue to rebuild their squad under Mikel Arteta.

The Gunners have faced protests from fans during this campaign, with most of them demanding more investment in their playing team from club owners.

They look set to make their wish come true after the Gunners borrowed money from Barclays Bank to cover the Covid Corporate Financing Facility loan they got last year to cover losses from the coronavirus pandemic.

Maguire says there were restrictions on using the CCFF but the new loan doesn’t have any and that means they have up to £ 120million to spend on recruiting players.

He said Football initiate: “I’m not sure they could have renewed the old loan. There was no guarantee.

“There were also restrictions at the level of the Bank of England’s CCFF. But when it comes to the Barclays loan, that’s Arsenal’s money to play with.

“The relationship with Barclays gives Arsenal more flexibility. It could be beneficial for the club as you don’t have to limit it in terms of day-to-day operational costs.

“The Kroenke family have a lot of work to do to convince Arsenal fans of their intentions. This new loan could be used for recruitment and retention issues.

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