Tottenham Hotspur have borrowed £175 million ($221 million) from the British government to cope with the financial impact of the COVID-19 pandemic.

Strict criteria applies to be eligible for the initiative -- including holding the highest credit rating possible for a firm -- with the money repayable in full not before April 2021 at an interest rate of just 0.5%.

Spurs stated the money "will not be used for player acquisitions" and instead to ensure the club has "financial flexibility and additional working capital," while also helping repay the debt on their new £1 billion stadium.