Arsenal have reached an agreement to renew their £70million credit facility with Barclays Bank, with the arrangement having the potential to provide the club with additional spending power in the transfer market.
In documents published by Companies House last week, the 'Registration of Charge' form was confirmed to have been submitted on December 23. Any subsequent borrowing will be secured against future television revenue, which remains the main source of income for Premier League clubs.
The news could be perceived as an exciting move for the club, with any investment having the ability to fund a move for a player such as Mykhaylo Mudryk. However, the credit facility is not intended to be used for the purpose of transfers and may be used in a similar way to a normal bank overdraft and only in the event of exceptional circumstances, similar to the COVID-19 pandemic.
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While this news is not directly linked to a potential January spending spree from the Premier League leaders, there remains confidence that the signing of long-term targets such as Mudryk will be able to be completed. Arteta has confirmed the need for January business to be completed and this will be funded similarly by owner Stan Kroenke to the club's summer business.
The Gunners' business will be led by sporting director Edu, with the former midfielder expected to make a move for Ukrainian winger Mudryk to provide additional competition on the left-wing. The interest has been confirmed by Shakhtar, with their chief executive revealing that talks had taken place.
"Talks for Mudryk are on," Sergei Palkin said last week. "We receive offers but not the ones we would like to see on our table. I'll speak again to Arsenal. So, yes, we are open to discussing fees and ideas.
"If we will agree, then let it be so. If we will not, then let it be another time. Now, literally in five minutes, I will have a new phone call conversation with Arsenal for the Mykhaylo Mudryk deal."
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