Michael Ballack could be coming to a MLS side near you. (Getty Images)

German international midfielder Michael Ballack could be close to joining a Major League Soccer team. Sources close to Goal.com say the midfielder is in "deep negotiations" with the league.

Sources from both sides have confirmed that MLS Executive VP Todd Durbin initiated talks that would bring the former Germany captain and current Bayer Leverkusen midfielder to North America.

By Chris Wright

'Twas a bit of a slow one yesterday as anyone who spent 11-and-a-bit hours 'glued' to the live feed will tell you, with the total spending across the English leagues failing to surpass the £50 million that Chelsea spaffed on Fernando Torres this time last year let alone the ludicrous £225 million that was spent in total in January of 2011.

The new Indian League franchise got their squads ready during the week, with a fantasy league type auction.

The six week run tournament, seen each team bid for an "Icon" player and a foreign coach set up in the same style as the Indian one day cricket format currently used to great effect.

Last week the USSF announced changes to the structure of the developmental academy system. The two primary changes were a shift to a nationwide 10-month season (USSoccer.com) and a top-down forced choice between high school soccer and the Academies (TopDrawerSoccer.com). These changes are part of the national federation's continued quest for improvement and are extensions from the establishment of the Academy system and growing MLS HomeGrown Player rules (both SBNation.

Stewart Downing came for a big fee in the Summer of 2011. With a good touch, pace and consistently the most crosses in the Premier League he looked like a good compliment to Andy Carroll, but he was never worth the £18.5 million pounds Liverpool paid for him, becoming the sixth most expensive Liverpool signing of all time in the process.

There has been some very bad news for football over the last week. The fact that Glasgow Rangers have been put into administration, by the club's owner, is an indication of the sorry state the Beautiful Game is in both financially and in terms of management.

This latest occurrence has come about as a result of Her Majesties Revenue and Customs (HMRC) demanding up to £50 million in unpaid taxes and National Insurance contributions due on money paid into Employee Benefit Trusts (EBTs).

While most of the numbers were leaked last week, Arsenal's financial results make interesting reading.

Here are some of the highliights:

• Group profit before tax was £49.5 million (2010 loss of £6.1 million)
• Profit on sale of player registrations amounted to £63.

While most of the numbers were leaked last week, Arsenal‘s financial results make interesting reading.

Here are some of the highliights:

• Group profit before tax was £49.5 million (2010 – loss of £6.1 million)
• Profit on sale of player registrations amounted to £63.