Financial analyst Kieran Maguire says Arsenal have money to spend on players this summer, which opens the door to possible deals for the likes of Jack Grealish and Ivan Toney
The Gunners have faced fan protests in recent weeks with fans demanding more investment in the playing squad from the club’s owners, as the fans believe the board are not spending enough money to get the club challenging for titles.
The Gunners will not have European football for the first time in 25-year, have not won a trophy and are so far behind the likes of Manchester City, United and Chelsea that they need some serious money invested into the squad.
Arsenal borrowed some money from Barclays Bank to cover for the Covid Corporate Financing Facility loan they got last year, which covered losses brought about by the coronavirus pandemic, and Maguire says there were restrictions on what they could use the CCFF for.
But the new loan doesn’t have one and that means they have as much as £120million to spend on player recruitments, which means they could sign the likes of Grealish, who is one of the best midfielders in the Premier League, and Toney, who has just helped Brentford reach the Premier League another a record-breaking season in the Championship.
He told Football Insider: “In terms of the Barclays loan, it’s Arsenal’s money to play with.
“The Barclays relationship gives Arsenal a greater degree of flexibility. That could be beneficial for the club because you don’t have to ringfence it in terms of day-to-day operational costs.
“The Kroenke family have got an awful lot of work to do to convince the Arsenal fans of their intentions. This new loan could be used for recruitment and retention issues.”
There is always talk that the board will spend and sometimes they do. But this is a time they really need to splash the cash or they will struggle again next season