Everton have secured a £14 million loan.
The News of the World says the club have borrowed the money from leading bank Investec against some of the media rights cash that they are due to receive this season.
But £9m of the loan will go to repay a similar mortgage taken out last year.
The rest has been used to sign Magaye Gueye and to fund new deals for Mikel Arteta, Tim Cahill, Jack Rodwell, Leighton Baines and Seamus Coleman.
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