Stan Kroenke is set to show his generous side by helping Arsenal to pay off the £120million government loan that they obtained last year because of the coronavirus pandemic.
The Gunners, like most teams around the world, incurred huge financial losses because of the absence of fans in their stadiums.
Arsenal have lost millions from matchday revenue in the last year and their fans still expect the club to spend money on buying new players.
They have been protesting against the American’s ownership in recent weeks and have asked him to sell his shares in the club and leave.
Kroenke has no intention of leaving Arsenal and wants to show his commitment by handing Mikel Arteta a big transfer kitty for the next transfer window.
Football London reports that he also looks set to help repay Arsenal’s loan from his personal fortune.
The Gunners can extend the repayment time by a year and can also make payments in instalments.
However, the report says the Gunners would prefer to repay everything in one go and that is exactly what they want to do now.
The loan also comes with an interest rate that amounts to about £600,000 or 0.5%.