gwladysnight
Player Valuation: £10m
Most clubs though use a revolving Credit facility from a bank though. That is far cheaper.Yes, City and Chelsea, along with the other 20 clubs in the league all take bridging loans every summer.
No, I don't know why, they just do.
The reason they have an RCF is because of the cyclical nature of Football revenues. Income isn't linear through the season. So you would either need to keep cash reserves that attract no interest or have a RCF.