Financial analyst and Football Insider columnist, Kieran Maguire says Arsenal has money to spend on players this summer.
The Gunners need to bolster their squad after missing out on the Premier League’s top seven this season.
It means they will not play European football in the next campaign as they continue to rebuild their squad under Mikel Arteta.
The Gunners have faced fan protests in this campaign with most of them demanding more investment in their playing squad from the club’s owners.
They look set to get their wish after the Gunners borrowed some money from Barclays Bank to cover for the Covid Corporate Financing Facility loan they got last year to cover for losses because of the coronavirus pandemic.
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.
He told Football Insider: “I’m not sure they could have renewed the old loan. There was no guarantees.
“There were also restrictions in terms of the CCFF from the Bank of England. But 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.”