Thanks. So they’ve put a working capital facility in place. Like virtually every business of scale hasHSBC...https://www.themag.co.uk/2022/07/newcastle-united-owners-borrow-from-hsbc-secured-on-ticket-sales-and-media-rights/
and the money is secured against future ST money and media rights..ie assets of the club not the owners..
It’s relatively small beans relative to total funding. I’m sure Chelsea have had similar, but it’s hardly £900m that they’ve spent in transfer fees