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Transfer rumours: Man City ready to splash out £45m to sign Ross Barkley

Arsenal are readying a £7m bid for Chelsea goalkeeper Petr Cech to replace Wojciech Szczesny. (Star)

Arsenal look set to miss out on Yohan Cabaye as midfielder is likely to re-sign for Newcastle. (Mirror)

Another Arsenal target, meanwhile, is also on the move with reports that Ron Vlaar is set to quit Aston Villa for Napoli. (Italian newspaper Il Mattino)

Arsenal look set to beat Man Utd to Ipswich’s £10m-rated 18-year-old midfielder Teddy Bishop. (Sun)

Arsenal are leading the race to sign PSG striker Edinson Cavani. (Star)

Arsenal are lining up a bid for young German keeper Loris Karius from Mainz (Mirror)

Arsene Wenger wants Yaya Sanogo, 21, to join a Premier League club on loan, with Aston Villa, Crystal Palace and Sunderland all interested. (Star)

Arsenal are edging closer to the signing of Atletico Madrid midfielder Mario Suarez, 27. (Express)

Arsene Wenger is targeting a January move for Everton midfielder James McCarthy. (Irish Independent)

The Gunners have had a bid for 16-year-old Polish midfielder Krystian Bielik rejected by Legia Warsaw. (Metro)

Arsenal and Tottenham will battle it out for the signature of Southampton midfielder Morgan Schneiderlin. (Squawka)

Arsenal are preparing to loan out striker Yaya Sanogo in January, with Aston Villa leading the chase. (Mirror)

The Gunners are submitting a £25.5m bid for 22-year-old Sporting Lisbon midfielder William Carvalho. (Star)

AC Milan have told Arsenal and Liverpool that striker Stephan El Shaarawy, 22, will cost £11.5m if they want to sign him in January. (Express)

The Gunners have had a £5m bid for Croatian midfielder Marcelo Brozovic rejected by Dinamo Zagreb (Star)

Arsenal transfer news – all the latest stories and rumours

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Aston Villa

Villa striker Christian Benteke has been linked with a move to champions Manchester City. (Sun)

Arsenal boss Arsene Wenger wants Yaya Sanogo, 21, to join a Premier League club on loan, with Aston Villa, Crystal Palace and Sunderland all interested. (Star)

With Fabian Delph appering set to leave Villa Park, the club are ready to make a move for Fulham midfielder Lasse Vigen Christensen as a potential replacement. (Mirror)

Liverpool are ready to test Aston Villa’s resolve by trying to sign midfielder Delph and centre-back Ron Vlaar in a £15m deal. (Star)

Manager Paul Lambert has admitted he is powerless in his bid to keep Vlaar and Delph amid interest from Manchester United and Liverpool. (Star)

Lambert hopes to secure a permanent deal for Manchester United loan star Tom Cleverley. (Birmingham Mail)

Aston Villa are keen on signing Man Utd midfielder Darren Fletcher. (Star)

AC Milan striker Giampaolo Pazzini is being offered to Premier League clubs, with Queens Park Rangers, Sunderland and Aston Villa all interested. (Mirror)

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Burnley

Leicester City have made a £7.5m bid for Burnley striker Danny Ings. (Mail)

However, Ings will not be sold in January, insists Burnley manager Sean Dyche. (Mail)

Sunderland are set to join neighbours Newcastle in the race to sign Ings. (Star)

Burnley could be already lining up a replacement for Ings with unsettled £5m-rated Crystal Palace striker Dwight Gayle on their radar. (Mirror)

Newcastle owner Mike Ashley wants to sign Ings for Scottish side Rangers. (Star)

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Chelsea

Croatia striker Andrej Kramaric could join Jose Mourinho’s side for £4m. (Times)

Chelsea’s pursuit of Gareth Bale looks to be over with the Welshman closing in on a new and improved deal at Real Madrid. (Express)

Chelsea’s veteran goalkeeper, Mark Schwarzer, is closing in on a move to Leicester. (Star)

Chelsea are poised to beat Leicester to the £7m signing of Croat striker Andrej Kramaric, 23, from HNK Rijeka.(Telegraph)

Chelsea have had a huge £101m bid for Real Madrid’s Gareth Bale rejected. (Star)

Chelsea are interested in signing striker Wilfried Bony, 26, from Swansea in January for £30m. (Times)

Real Madrid are lining up a bid to sign Eden Hazard in the summer (Star)

Chelsea are ahead of Arsenal and Manchester United in the chase for Corinthians forward Malcolm Silva. (Express)

Inter Milan are hopeful of concluding a loan deal for Chelsea winger Mohamed Salah. Sunderland and Atletico Madrid have also made contact. (Mail)

The Blues are set to pay £24m for Juventus utility man Kwadwo Asamoah in January. (Metro)

Chelsea transfer news- all the latest stories and rumours

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Crystal Palace

Incoming Crystal Palace manager Alan Pardew is considering a loan deal for Arsenal striker Yaya Sanogo. (Times)

Pardew is also interested in Swansea forward Bafetimbi Gomis, 29, Aston Villa striker Darren Bent, 30, and Lille left-back Pape Souare, 24. (Star)

Palace have made a £1.8m offer for Palermo left-back Achraf Lazaar. (Mail)

The Eagles are lining up a double swoop for Swansea’s Bafetimbi Gomis and Lille’s Pape Souare. (Star)

Palace are said to have made a £2.5m bid for Lille left-back Souare, but the French side are holding out for another £500,000. (Mail)

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Everton

Louis van Gaal wants to sign Everton right-back Seamus Coleman, 26, for around £20m (Guardian)

Everton are weighing up a short-term move for Wigan goalkeeper Ali Al-Habsi, 33 (Mail)

Manchester United midfielder Adnan Januzaj is a loan target for Everton as boss Roberto Martinez. (People)

Everton are understood to be in the chase for Croatia international and Dinamo Zagreb midfielder Marcelo Brozovic. (Mirror)

The Toffees have opened talks with Barcelona over a shock deal to sign their right-back Douglas. (Metro)

Martinez says he has no intention of losing striker Kevin Mirallas. (Mail)

Liverpool are lining up a shock move to sign Mirallas. (Metro)

Ondrej Duda, the Legia Warsaw midfielder, could be on his way to Merseyside after the Slovakia international caught the eye of Everton scouts. (Mail)

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Hull City

Steve Bruce has been keeping tabs on Steven Fletcher‘s future at Sunderland with the Hull manager ready to swoop for the striker. (Sun)

Sunderland and Leicester are interested in signing out-of-favour Hull City defender Curtis Davies. (Mail)

Bruce is plotting yet another raid on Tottenham as he lines up a January bid for Aaron Lennon. (Mirror)

Hull have recalled Yannick Sagbo from his loan at Wolverhampton Wanderers. (Sky Sports)

Hull are planning to hold contract extension talks with Paul McShane, Liam Rosenior, Stephen Quinn and Alex Bruce. (Sky Sports)

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Leicester City

Leicester and Liverpool have both been linked with a January swoop for striker Jermain Defoe. (Guardian)

City, meanwhile, are also on the brink of signing veteran goalkeeper Mark Schwarzer from Chelsea. (Star)

Leicester City have made a £7.5m bid for Burnley striker Danny Ings. (Mail)

West Brom could join Leicester, Newcastle and German club Wolfsburg in the race to sign Ings. (Sun)

Leicester have joined Burnley in the race to sign unsettled £5m-rated Crystal Palace striker Dwight Gayle. (Mirror)

Celtic striker Kris Commons could make a Premier League move in January, with Leicester and West Brom interested in signing him. (Sun)

Leicester and Sunderland are interested in signing out-of-favour Hull City defender Curtis Davies. (Mail)

The Foxes have had a £7m bid for HNK Rijeka striker Andrej Kramaric, a target for Chelsea and Tottenham, rejected. (Express)

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Liverpool

Liverpool are considering a move to sign Valencia striker Paco Alcacer. (Marca)

After Steven Gerrard’s bombshell, Raheem Sterling is expected to sign a five-year contract by the end of the month. (Telegraph)

Liverpool are already considering re-signing captain Steven Gerrard on loan next year at the end of the MLS season. (Telegraph)

LA Galaxy will offer Gerrard £20m salary to join – the same amount they paid David Beckham. (Mirror)

Former United manager David Moyes, meanwhile, says Gerrard would be welcome at his La Liga side Real Sociedad. (Mail)

Liverpool face £20m fight with Tottenham to sign striker Saido Berahino from West Brom. (Sun)

Liverpool could also sign former Spurs frontman Jermain Defoe to boost their attacking options. (Telegraph)

Liverpool are preparing a bid for Bayern Munich midfielder Xherdan Shaqiri, 23. (Metro)

The Reds look set to lose out to Arsenal in their pursuit of PSG striker Edinson Cavani. (Express)

Steven Gerrard, who will leave Liverpool at the end of the season, is wanted by LA Galaxy and two other MLS teams. (Mirror)

Liverpool and Tottenham target Saido Berahino could be available for £14m. (talkSPORT)

The Reds are considering recalling midfielder Jordon Ibe from his loan spell at Derby. (Liverpool Echo)

Rodgers predicts a quiet transfer window for his side. (Telegraph)

Liverpool want to sign Villarreal’s 21-year-old Argentine striker Luciano Vietto, described as the “new Sergio Aguero”. (Mirror)

West Brom have denied that Saido Berahino is on his way to Liverpool in January. (Express)

AC Milan have told Arsenal and Liverpool that striker Stephan El Shaarawy, 22, will cost £11.5m if they want to sign him in January. (Express)

Liverpool and Manchester City are set to go head-to-head for the signing of Saint Etienne midfielder Rayan Souici, 16 (Metro)

Liverpool and Tottenham Hotspur could miss out on Jackson Martínez after Roma emerged as favourites to sign the Porto striker. (Express)

Fabio Borini could be offered to Lazio, along with £8m, as Brendan Rodgers looks to secure midfielder Ogneyi Onazi. (Star)

Martin Odegaard, the 16-year-old Norwegian international, is ready to turn down offers from Arsenal, Liverpool, Manchester City and Manchester United in favour of a move to Southampton, according to reports in Norway. (Express)

Brendan Rodgers, the Liverpool manager, is understood to be very close to signing Saido Berahino, the West Bromwich Albion striker, in a deal worth £23.5m. (Metro)

Liverpool transfer news – all the latest stories and rumours

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Manchester City

City could lay out £45m to bring in Everton midfielder Ross Barkley which would provide Roberto Martinez with funds for a complete overhaul. (Mail)

Manchester City want to solve their striker crisis by bringing in Villa striker Christian Benteke. (Sun)

City have also been linked with a £25m move for Swansea frontman Wilfried Bony. (Mirror)

Real Madrid defender Pepe is a transfer target for Manchester City and Manchester United. (Sports Mole)

Atletico Madrid claim they have turned down an offer from Manchester City for 19-year-old defender Jose Gimenez. (Mirror)

Liverpool and Manchester City are set to go head-to-head for the signing of Saint Etienne midfielder Rayan Souici, 16. (Metro)

Serbian defender Matija Nastasic is set to leave City and join German side Schalke. (MEN)

Martin Odegaard, the 16-year-old Norwegian international, is ready to turn down offers from Arsenal, Liverpool, Manchester City and Manchester United in favour of a move to Southampton, according to reports in Norway. (Express)

Manchester City continue to look in to the viability of signing Lionel Messi in a £200m deal. (Mail)

City are preparing a £25m bid for Atletico Madrid striker Mario Mandzukic. (Star)

Stoke have made an £8m bid to beat Arsenal, Chelsea and City to Rennes starlet Paul-Georges Ntep in January. (Express)

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Manchester United

United will look to Borussia Dortmund’s Mats Hummels and Schalke’s Benedikt Howedes to bolster their defence during the window. (Express)

Radamel Falcao could leave Old Trafford to join Juventus when his season-long loan deal runs out in the summer. (Mirror)

United target Arjen Robben looks set to land a new deal at Bayern Munich with the German champions considering offering the Dutchman in excess of the £180,000-a-week contract he signed last year. (Star)

United have joined Chelsea in keeping tabs of Real Madrid defender Raphael Varane. (Marca)

United’s pursuit of Gareth Bale looks to be over with the Welshman closing in on a new and improved deal at Real Madrid. (Express)

Arsenal look set to beat United to Ipswich’s £10m-rated 18-year-old midfielder Teddy Bishop. (Sun)

Manchester United are planning a bid in excess of £70m for Juventus midfielder Paul Pogba. (Express)

Real Madrid defender Pepe is a transfer target for Manchester City and Manchester United. (Sports Mole)

Louis van Gaal wants to sign Everton right-back Seamus Coleman, 26, for around £20m. (Guardian)

Manchester United will reject a bid from Juventus for Juan Mata. (Express)

The Old Trafford club are weighing up a bid for Aston Villa defender Ron Vlaar. (Express)

Everton have told Manchester United that right-back Seamus Coleman is not for sale (Irish Independent)

Real are lining up a move for Radamel Falcao in the summer, if his deal at Old Trafford is not made permanent (Metro)

United striker Javier Hernández will be offered to AC Milan in exchange for centre-back Adil Rami once the Mexican’s loan spell at Real Madrid has ended in the summer. (Express)

United and Tottenham must qualify for the Champions League if they are to stand a chance of signing Memphis Depay, the PSV Eindhoven winger. (Express)

Martin Odegaard, the 16-year-old Norwegian international, is ready to turn down offers from Arsenal, Liverpool, Manchester City and Manchester United in favour of a move to Southampton, according to reports in Norway. (Express)

Manchester United are considering a £25m bid for Seamus Coleman, the Everton right-back, who is also being tracked by Chelsea. (Daily Star)

United are understood to be interested in signing Virgil van Dijk, the Celtic defender, though face competition from Arsenal, Liverpool and Tottenham Hotspur. (Express)

Manchester United transfer news – all the latest stories

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Newcastle United

Yohan Cabaye looks set for a return to Newcastle with PSG keen on a cash and swap deal for Moussa Sissoko. (People)

Hatem Ben Arfa has all but agreed a deal to return to France aand join Nice. (Express)

Fabricio Coloccini, the Newcastle defender, is in the frame for the job at St James’ Park after Alan Pardew left the club. (Independent)

Crystal Palace are preparing to make a formal approach for Pardew, the Newcastle United manager, but will have to pay hefty compensation with the Londoner having five years left on his contract. (Northern Echo)

West Ham face a battle to hold on to centre-back James Tomkins with Newcastle interested in the 25-year-old. (Times)

West Brom could join Leicester, Newcastle and German club Wolfsburg in the race to sign Burnley striker Danny Ings. (Sun)

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Queens Park Rangers

Adel Taarabt, the QPR midfielder, has turned down a move to Serie A side Atalanta in the hope that AC Milan make a bid. (Mail)

Harry Redknapp is eyeing a January move for Manchester City winger Scott Sinclair. (Mirror)

Striker Jermain Defoe has flown back to London to resolve his future – and is eyeing a move to Queens Park Rangers. (Telegraph)

QPR are confident they will agree terms to double Charlie Austin’s wages in a new contract in the new year. (London Evening Standard)

QPR would be interested in taking West Ham’s troubled midfielder Ravel Morrison on loan. (Telegraph)

Redknapp has again been tipped to sign free agent Lassana Diarra. (West London Sport)

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Southampton

Southampton will make defender Ryan Bertrand’s loan move to the club from Chelsea a permanent switch in the summer. (Setanta)

Arsenal and Tottenham will battle it out for the signature of Southampton midfielder Morgan Schneiderlin. (Squawka)

Martin Odegaard, the 16-year-old Norwegian international, is ready to turn down offers from Arsenal, Liverpool, Manchester City and Manchester United in favour of a move to the south coast club, according to reports in Norway. (Express)

Southampton have reached a deal to sign the Holland winger Eljero Elia from Werder Bremen. (Telegraph)

Saints are plotting a move for Wesley Sneijder from Galatasaray to stop their season unravelling. (Mirror)

Ronald Koeman insists Tottenham target Morgan Schneiderlin is not for sale. (Mail)

Tottenham are planning a squad overhaul as they eye Schneiderlin and Jay Rodriguez. (Mirror)

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Stoke City

New manager Tony Pulis is interested in signing Stoke City striker Peter Crouch, 33. (Mirror)

Stoke have made an £8m bid to beat Arsenal, Chelsea and Manchester City to Rennes starlet Paul-Georges Ntep in January. (Express)

Despite being linked with a move to QPR, Stoke are hopeful striker Peter Crouch will stay with the club. (Stoke Sentinel)

Stoke are the latest club to be linked with a loan move for Joel Campbell. (Mirror)

Charlie Adam is open to the possibility of a move abroad amid links to Real Sociedad. (Mail)

Liverpool are continuing to look at Chelsea’s Petr Cech and Stoke’s Asmir Begovic as a replacement for keeper Simon Mignolet. (Mail)

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Sunderland

Arsenal boss Arsene Wenger wants Yaya Sanogo, 21, to join a Premier League club on loan, with Aston Villa, Crystal Palace and Sunderland all interested. (Star)

Gus Poyet is hoping to strengthen his attack next month by signing Burnley striker Danny Ings. (Star)

Sunderland and Leicester are interested in signing out-of-favour Hull City defender Curtis Davies. (Mail)

Ezequiel Muñoz, the Palermo defender who can play centre-back and right-back, is being watched by Sunderland who will have to pay around £4m. (Mail)

Sunderland set to make a renewed move for Liverpool’s Fabio Borini. (Mail)

Napoli are the latest Serie A side to be linked with a move for Sunderland midfielder Emanuele Giaccherini. (Sunderland Echo)

AC Milan striker Giampaolo Pazzini is being offered to Premier League clubs, with QPR, Sunderland and Aston Villa all interested. (Mirror)

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Swansea City

Manchester City have started negotiations over a £25m move for Wilfried Bony, 26, from Swansea (Mail)

Portugal striker Nelson Oliveira will join Swansea until the end of the season. (ESPN)

Ezequiel Muñoz, the Palermo defender who can play centre-back and right-back, is being watched by Swansea who will have to pay around £4m for the 24-year-old Argentine. (Mail)

Swansea are lining up a January move for Atletico Madrid striker Leo Baptistao. (Mirror)

Garry Monk says Wilfried Bony will not leave the club in January. (BBC)

Swansea have joined Aston Villa, Sunderland and Celtic in the hunt for Canadian midfielder Jay Chapman, who currently turns out for Michigan State in the NCAA. (Mail)

City are lining up a January loan move for Arsenal’s out-of-favour forward Joel Campbell. (Metro)

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Tottenham Hotspur

Adrien Rabiot is close to joining Spurs on a six-month loan deal. (Gazzetta dello Sport)

Tottenham face £20m fight with Liverpool to sign striker Saido Berahino from West Brom. (Sun)

Cruzeiro have been linked with a move for outcast Paulinho, while Aaron Lennon leave the club if anyone lays out £7m. (Mirror

Arsenal and Tottenham will battle it out for the signature of Southampton midfielder Morgan Schneiderlin. (Squawka)

Spurs and Liverpool could miss out on Jackson Martínez after Roma emerged as favourites to sign the Porto striker. (Express)

Tottenham and Manchester United must qualify for the Champions League if they are to stand a chance of signing Memphis Depay, the PSV Eindhoven winger. (Express)

Spurs are understood to be interested in signing Virgil van Dijk, the Celtic defender, though face competition from Arsenal, Liverpool and Manchester United. (Express)

Tottenham and Liverpool have been given a boost in their pursuit of PSG’s Ezequiel Lavezzi, with the French club not willing to offer him a new deal. (Metro)

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West Bromwich Albion

New Tony Pulis will have up to £15m to spend in the January transfer window. (Independent)

Liverpool and Tottenham target Saido Berahino could be available for £14m. (talkSPORT)

Pulis is interested in signing Stoke City striker Peter Crouch, 33. (Mirror)

West Brom have denied that Saido Berahino is on his way to Liverpool in January. (Express)

West Bromwich Albion striker Saido Berahino could be off to Liverpool who are ready to pay £23.5m for the England international. (Metro)

West Brom could join Leicester, Newcastle and German club Wolfsburg in the race to sign Burnley striker Danny Ings. (Sun)

Spurs will make a January move for West Brom striker Saido Berahino. (Sun)

Manager Alan Irvine insists Berahino is not for sale. (BT Sport)

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West Ham United

Winston Reid, the West Ham United defender, could be on his way out of Upton Park with Arsenal planning a £4 million move for the player. (Mail)

West Ham want to offload striker Mauro Zarate to make room for manager Sam Allardyce to bring in new signings. (People)

Allardyce is set to face a battle to hold on to centre-back James Tomkins with Newcastle interested in the 25-year-old. (Times)

David Sullivan has warned West Ham’s Premier League rivals that the club’s first-team stars are not for sale at any price next month. (Mirror)

QPR would be interested in taking West Ham’s troubled midfielder Ravel Morrison on loan. (Telegraph)

Arsenal are willing to sell full-back Carl Jenkinson for £8m, but West Ham are unlikely to meet their valuation. (Star)

Transfer rumours: Top 56 players in the winter window
Your club-by-club January transfer guide
Arsenal transfer rumours
Man Utd transfer rumours
Liverpool transfer rumours
Chelsea transfer rumours

[…]

Labour benefits from £1million donation and loan from cash for peerages millionaire

The effect of Sir David’s request according to the party’s latest accounts means that the value of the residual loan increased from £707,000 to nearly £1.2million.

Sir David initially lent the £2.3 million just weeks before the 2005 general election, to be repaid in 2007. It was secured by Lord Levy, Mr Blair’s personal fundraiser, and helped finance an 11th hour advertising offensive for the campaign.

At the time, Sir David was one of four lenders at the heart of the cash for peerages affair who were nominated for peerages for their service to the party.

Their nominations were blocked by the Lords after details of the loans – which were initially undisclosed – emerged. Sir David later asked for his name to be withdrawn.

Labour’s accounts also included a £1.65million donation from John Mills, the television shopping tycoon in the form of shares in his company JML.

However, Labour decided not to include any value of the 2.5 per cent stake in the accounts because it was in a private company and so difficult to trade in the future.

Labour stressed it would pay any tax that was due on the shares, either when they were sold or on dividend income from the shares.

Overall Labour topped the league for the highest political party income, taking in more than £33 million last year, leaving a “surplus” of £5.46 million.

The party last year paid corporation tax of just £14,000, despite declaring in its accounts that an “expected” tax at a rate of 20 per cent would have been £1.096 million.

However, after taking into account non-taxable income of £6.65 million and expenses not deductable for tax purposes of £5.57 million, the bill fell to £14,000.

A Labour spokesman said: “Corporation tax is paid on taxable profits. We have not made any taxable profits because we are a not-for-profit organisation.

The Conservatives’ accounts show that it paid £187,000 in tax, after an income of £25.3 million and a “surplus” of £2.03 million.

The Tories’ accounts show party is debt-free for the first time in nearly two decades.

The party’s 2013 report and accounts show that the party paid off £4.4million in loans since the beginning of 2013 and the end of last month.

It said: “This means that for the first time since 1995 we do not have any outstanding external debt beyond constituency association loans.”

The Liberal Democrats brought in £7.3million income and spent £6.8 million.

[…]

Seminar pulls veil off payday loan biz | Amarillo Globe-News

Payday and auto title loans are big business in Amarillo, and city leaders will hear from two experts and the public on Monday about possibly regulating the lenders.

Data from the Texas Office of Consumer Credit Commissioner shows there were 9,654 payday loans with single payments due made in Amarillo during 2013 and twice that many refinanced. Those transactions totaled $13 million and generated $3 million in fees.

About $6.8 million in new and refinanced auto title loans generated $1.9 million in fees in 2013. There were 2,878 new loans and 3,571 refinances.

The statistics are for the Amarillo Metropolitan Statistical Area, which includes Armstrong and Carson counties in addition to Potter and Randall counties.

“The issue has become more apparent to cities as more locations come in and there’s an increase in negative impact,” said Brett Merfish, one of the speakers at the Monday event and staff attorney for Texas Appleseed, a public interest law center.

“In Amarillo in 2013, there were almost 400 cars repossessed,” she said.

“(Lenders) cluster in low-income zip codes. And after (borrowers) take out a loan, they’re in worse financial shape.”

Supporters of the industry say there are good reasons they’re in less affluent neighborhoods.

They take more risks for higher rewards through inflated interest rates and provide credit to people standard institutions like banks won’t consider, payday lenders argue.

The event will start at 5:30 p.m. in the Heritage Ballroom of the Amarillo Civic Center, 401 S. Buchanan St.

Also attending and sharing their thoughts on the topic will be City Councilman Jerry Allen of Dallas, where the city regulates the businesses, and several local community groups.

“This will be your opportunity to express yourself, so pass the word,” Amarillo City Councilwoman Lilia Escajeda said of the meeting on loans that can have interest rates of more than 500 percent.

The fees aren’t light, either.

“They cost twice as much in Texas,” Merfish said. “For a $500 loan for two weeks, the fee in Florida is $55. In Texas it’s $110.”

There are ordinances in 18 Texas cities based on one put together by the Texas Municipal League to regulate the lenders.

Some of the provisions include requiring the business to register with the city, limiting the number of times a loan can be refinanced, requiring a short term for repayment with payments reducing principal by a minimum of 25 percent per payment and loans based on the borrower’s ability to repay.

One such payday loan business recently lost an enforcement battle over “unethical” and “abusive” behavior allegations.

On July 10, the Consumer Financial Protection Bureau filed a consent order in which Ace Cash Express agreed to pay a $5 million fine, $5 million in restitution and educate its workers on how to perform their jobs within the law, such as not calling past-due borrowers at work or calling third parties and telling them about the loans.

There are two Ace Cash Express locations in Amarillo.

[…]

The Commercial Law League of America, Financial Poise, and The ChamberWise Education Consortium to Present “Cash …


The Commercial Law League of America, Financial Poise, and The ChamberWise Education Consortium to Present “Cash Collateral and DIP Loan Motions” Webinar June 4

The Commercial Law League of America, Financial Poise, and The ChamberWise Education Consortium are pleased to announce a brand new webinar “Cash Collateral and DIP Loan Motions”, premiering on June 4, 2014 at 12pm CDT.

Chicago, IL (PRWEB) June 02, 2014

The Commercial Law League of America, Financial Poise, and The ChamberWise Education Consortium are pleased to announce a joint webinar, “Cash Collateral and DIP Loan Motions” on June 4, 2014.

Speakers include:

James Hays, Gonzalez, Saggio, & Harlan LLP Jonathan Brand, LakeLaw David Eaton, Kirkland & Ellis LLP Kirk Burkley, Burnstein-Burkley, P.C.

Cash is the lifeblood of any business. The “financing motion,” seeking permission to use a lender’s cash collateral and/or permission to enter into a debtor-in-possession loan is consequently one of the single most critical motions filed in a bankruptcy case. This webinar will cover everything you ever wanted to know about cash collateral and DIP loan motions in bankruptcy but were afraid to ask.

Produced in conjunction with The Commercial Law League of America. 1.0 CLE credit available.

Click here to register for the webinar.

About CLLA
The Commercial Law League of America is the leading legal association for attorneys who work in the credit, collections, bankruptcy and finance industry in the U.S. and more than 20 countries. Since 1895, the CLLA has connected experienced attorneys with credit grantors, lending institutions and other commercial credit, bankruptcy and general finance industry members, providing expertise, insight and results through networking, education, legislative advocacy and specialized legal services.

About ChamberWise
ChamberWise serves as a leading resource for member education among Chambers of Commerce around the globe. ChamberWise was founded in response to the need for more dynamic and diverse member education opportunities and more efficient and immediate content delivery systems among Chambers of Commerce around the world. Our mission is to provide high quality, relevant educational content at an affordable rate, while offering Chambers of Commerce a reliable and efficient source of revenue in the process.

About Financial Poise
Financial Poise, a division of DailyDAC, LLC, produces educational webinars for three core audiences: business owners and C-level executives, accredited investors, and their respective attorneys and other trusted advisors. Each webinar is developed and executed exclusively by professionals who are top performers in their respective fields of expertise.


[…]

Ibrox board rejects King's ticket cash bid

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THE Rangers board has rejected Dave King’s plan to ring-fence season-ticket cash, the former director claims.

Dave King wanted to ring-fence ticket cash

King met with the ruling Ibrox regime on Friday for showdown talks about the club’s worrying financial state.

The club responded 24 hours later with a statement describing the meeting as a “helpful, open and honest discussion”.

But the board rejected the South Africa-based businessman’s proposed scheme, which would have protected season-ticket cash from being used to repay a controversial £1.5 million loan handed to the new League One champions by investors Sandy Easdale and Laxey Partners Ltd.

The loan agreement is secured against the club’s Albion car park and Edmiston House facility and will earn Laxey a £150,000 profit in either cash or shares when it is repaid next year.

In a statement, King, a Castlemilk-born multi- millionaire, said: “The only significant issue that I discussed with the board that is not contained in the board statement is the Laxey loan facility.

“Mr [Norman] Crighton, on behalf of the board, made a forcible argument as to why the board considered and approved the terms of the Laxey loan.

“The board considered that a combination of legal risk and the current financial position justified the loan terms.

“I replied that a consequence of the board’s view of the high risk to anyone advancing funds to the club is the board’s fiduciary responsibility to ring fence any season-ticket money that is received (even if fans don’t request this) unless sufficient committed financing is in place at that time.

“The board did not agree with me on this logical consequence but I believe that my observation is correct.”

The former director – who lost a £20m investment when the club was liquidated in 2012 – also expressed fears that the board would mortgage off Ibrox and the Murray Park training facility to secure fresh finance.

But he added: “The board has now publicly dealt with each of the above. The board has affirmed that it regards competition with Celtic and in Europe as being its continued aim and that this outlook will be reflected in the business review that will be published within the next month.

“Crucially, that will allow fans time to consider the review prior to investing in season tickets but it is also important that the board has now confirmed categorically that they will not use Ibrox or Murray Park as security for any form.

“The board has now communicated with the fans and has committed to do so in more detail within a month.”

[…]

Rangers reject season ticket cash plan

The Rangers board have rejected Dave King’s plan to ring-fence season-ticket cash, the former director claims.

King met with the ruling Ibrox regime on Friday for showdown talks about the club’s worrying financial state.

The club responded 24 hours later with a statement describing the meetings as a “helpful, open and honest discussion”.

But the South Africa-based businessman’s proposed scheme – that would have protected season-ticket cash from being used to repay a controversial £1.5million loan handed to the new League One champions by investors Sandy Easdale and Laxey partners – was knocked-back by the board.

The loan agreement is secured against the Albion car park and Edmiston House facility and will earn Laxey a £150,000 profit in either cash or shares when it is repaid next year.

King says the board have addressed many of his concerns about the fallen Glasgow giants’ future but revealed the two sides could not find common ground on the topic of season-ticket revenue.

In a statement issued to Press Association Sport, the Castlemilk-born multi-millionaire said: “The only significant issue that I discussed with the board that is not contained in the board statement is the Laxey loan facility.

“Mr [Norman] Crighton, on behalf of the board, made a forcible argument as to why the board considered and approved the terms of the Laxey loan.

“The board considered that a combination of legal risk and the current financial position justified the loan terms.

“I replied that a consequence of the board’s view of the high risk to anyone advancing funds to the club is the board’s fiduciary responsibility to ring fence any season-ticket money that is received (even if fans don’t request this) unless sufficient committed financing is in place at that time.

“The board did not agree with me on this logical consequence but I believe that my observation is correct.”

King looked set to go to war with the board when he advised fans to withhold season-ticket cash and instead pay it into a trust fund which would then drip feed the money to the club.

He made his original call after complaining about a lack of transparency about the club’s financial state following last year’s £14.4million loss and rumours of downsizing to boss Ally McCoist’s squad, which King feared would allow Celtic to rack up “10 in a row”.

On top of his concerns about season-ticket cash, the former director – who lost a £20million investment when the club was liquidated in 2012 – also expressed fears that the board would mortgage off Ibrox and Murray Park to secure fresh finance.

But he added: “The board has now publicly dealt with each of the above. The board has affirmed that it regards competition with Celtic and in Europe as being its continued aim and that this outlook will be reflected in the business review that will be published within the next month.

“Crucially, that will allow fans sufficient time to consider the review prior to investing in season tickets but it is also important that the board has now confirmed categorically that they will not use Ibrox or Murray Park as security for any form of fund raising.

“No one should be in any doubt that this public statement and commitment is significant and should be appreciated as such.

“Statements from a public company board are intended to be relied upon so in a couple of weeks we can expect a business review that will reflect the board’s ambition and a funding plan to achieve this.

“We can also rely on the fact that if circumstances change the board would be bound to advise the public in advance of this.”

He added: “The board has now communicated with the fans and has committed to do so in more detail within a month.

“Let us give the board time to comply with its commitment.

“I advised the board that I would wish to be a part of the required fund-raising as a component of a united fan group investment vehicle. This will require further discussion after release of the review in the next month.”

[…]

Mets get good news with loan, which means good news with payroll

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Saul Katz and Fred Wilpon. (Getty)

The New York Mets biggest victory of 2014 has come long before opening day and happened nowhere near a Major League Baseball diamond. It has to do with a $250 million loan that owners Fred Wilpon and Saul Katz have hanging over them. The loan is going to be refinanced, which includes removal of restrictions on how much the team can add to payroll.

They finally can see light at the end of the tunnel and it’s not the No. 7 train.

Mets partners were among a long list victimized by Bernie Madoff’s ponzie scheme. Cash flow has been a problem ever since — with stopgap loans being required and many favors cashed in, putting current ownership in peril of losing the team. As a result, the team’s payroll, about $140 million in 2010, is going to be about $93 million in 2014 — which would rank 24th out of 30 teams.

The New York Post published details Thursday night about the loan refinancing that includes phrases one should never read in a baseball story. They include: “This will be oversubscribed,” and “The rate will likely end up at Libor, plus 300 basis points.”

So Libor is one of the guys competing for the starting shortstop job, or?

The Post writes:

Until recently, it wasn’t certain investors weren’t going to insist the team owners pay down some of the loan to get the refinancing done.

Wilpon and Katz will not be asked for any cash paydown, sources said.

Plus, interest payments are expected to stay about the same, a source with direct knowledge of the situation said.

The rate will likely end up at Libor, plus 300 basis points, or a shade under 4 percent, a source said.

The seven-year re-fi will give Wilpon and Katz much- desired financial breathing room, sources said.

For the longtime friends and team owners, it is perhaps the best outcome they could have hoped for.

For Mets fans hoping for new ownership to breathe new life — along with some power and pitching — into the line-up, perhaps the news is less thrilling.

So cynical, one paragraph at a time! Without the refinancing, a big cash payment on the principal — perhaps an “insurmountable” one — was coming in the spring. This gets Wilpon and Katz off the hook for that. It buys them more time to own the team and make it competitive again. That’s good news, unless you wanted them to have to sell the team. Are there people out there who want the Wilpons to sell the team?

– – – – – – –

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Report: Mets owner refinances $250M loan

Mets secure $250M loan refinancing

Updated: January 31, 2014, 12:01 AM ET

By Adam Rubin | ESPNNewYork.comRecommend0 Tweet0 Comments0 Print

NEW YORK — New York Mets owner Fred Wilpon and family, who faced a massive $250 million loan against the team coming due in the next few months, have successfully arranged for it to be refinanced, according to a published report.

The Post reported that the refinanced loan will not come due for seven years, freeing the cash-strapped owners from an immediate, burdensome obligation that could put their ownership of the team in peril.

The newspaper added that interest payments will remain about the same for team owners under the new terms. They will not be required to immediately pay down any principal as part of the refinancing agreement — avoiding the type of immediate lump-sum obligation that could trip them up.

The refinanced loan reportedly also does not restrict the Mets’ payroll, whereas the original loan’s terms capped how much the Mets could spend on players. The Mets’ payroll currently is about $87 million for 2014 — well below what is customary in a large market such as New York.

The owners have faced financial peril in recent years in part because they invested in swindler Bernard Madoff’s Ponzi scheme. They recently sold minority ownership shares in the club in order to pay down debt, including a loan from Major League Baseball.

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Adam Rubin has covered the Mets since 2003. He’s a graduate of Mepham High School on Long Island and the Wharton School of the University of Pennsylvania. He joined ESPNNewYork after spending 10 years at the New York Daily News.

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5 Forwards Arsenal Should Consider as Loan Signings in January Transfer Window

Key Stats:

La Liga Games Played: 1 started (9 as substitute) Goals: 2

Champions League Games Played: 0 (2) Goals: 0

At the beginning of December, John Cross of Mirror Football reported that Arsene Wenger was not interested in either Alvaro Morata or Alexandre Pato.

However, that situation changed over Christmas when, according to Cross, Olivier Giroud got injured.

With the news that Nicklas Bendtner is out for a couple of weeks and that Theo Walcott is out for the rest of this season, the need to sign a striker in January has grown exponentially.

Morata is one of the most exciting prospects at Real Madrid and is loved by their support and coaching team. That basically means that a full transfer will not happen but that a loan move may, despite Carlo Ancelotti telling the Daily Mail that Morata was going nowhere in January.

Morata’s capture would paper over the cracks until the summer.

It would be too much to expect from the young starlet to make a huge impact in just six months at the Emirates, especially in a title run.

Barcelona’s Gerard Deulofeu is currently experiencing a similar style loan deal at Everton and is enjoying some success. It is worth noting though that the prodigious youth has only started two of the Toffees’ 21 league games this season and has featured as substitute 10 times. It would be fair to expect something similar from Morata.

Where this deal does make sense is if Giroud, Bendtner and Lukas Podolski can remain fit.

The transfer window remains open for the entire month of January, and Wenger may gamble on making a decision, especially as the month contains two FA Cup fixtures. These weeks are basically rest weeks for injured players and will give Le Prof some wiggle room regarding transfers.

Should Bendtner come back fully fit by the end of the month then the Morata deal looks more likely. Giroud is already back in full training and is expected to return to first-team action as soon as possible.

This loan deal could potentially be the first step in Arsenal going after a much bigger target in the summer. Wayne Rooney anyone?

[…]

Ricky; Quick fix isn't always the best solution


Ricky; Quick fix isn’t always the best solution

With Scottish football suffering a cash crisis, we shouldn’t be surprised that so many clubs are keen to boost their squads by making loan signings.

However, for me, the idea of taking players on loan is a thorny subject.

I’m not a fan of the loan system, although I admit it can work for some players.

Firstly, let’s look at the positive side.

Dundee United have taken David Goodwillie on loan from Blackburn Rovers and that deal should benefit all three parties.

David is going to get game time and will then be fully fit when he goes back to Blackburn in January.

In the meantime, Dundee United are getting a top player – one they probably couldn’t afford to bring in if it wasn’t a loan deal.

However, there are negative aspects to the loan system, especially when you consider how it affects the development of youth players.

St Mirren brought Newcastle United midfielder Conor Newton back to Paisley on loan this week but I would rather they took a chance on one of their own youngsters.

Conor did well for St Mirren during last season’s loan spell but I wouldn’t be too happy if I was a young midfielder who was on the fringes of the Saints squad.

The point I would make is that, if a club accepts that an 18 or 19-year-old player who has come up through the ranks still isn’t good enough for a taste of the first team, why string him along?

By that age, the player should be ready to push on and, if he isn’t, perhaps it would be better to cut him loose and let him try his luck elsewhere.

That might seem harsh but wouldn’t it be better for that young player in the long run?

I totally understand that St Mirren and other clubs are trying to do the best they can in terms of their squad of players.

I also know that Conor and another loan signing – Esmael Goncalves – were goalscoring heroes for the club during last season’s League Cup Final – but isn’t it possible that St Mirren would still have been able to win the cup without them?

Every team needs a spine of experienced players running through it but that should be supplemented with talented young players.

I would rather see a club’s academy players getting a crack at the first team before loan signings are brought in but, while results remain the most important thing in football, it looks like the loan system is here to stay.

[…]