Arsenal take short-term Sh17.8 billion loan from government to cope with impact of COVID-19

December 26, 2020 Arsenal's Bukayo Saka celebrates scoring their third goal with Emile Smith Rowe and Alexandre Lacazette[ REUTERS]

Arsenal have taken out a short-term £120 million loan (Sh17.8billion)from the British government to help them cope with the impact of the coronavirus pandemic, the Premier League club announced Thursday.

In August of last year, the Gunners announced plans to make 55 posts in their staff redundant because of the financial hit the north London side had suffered as a result of COVID-19 .