[Archived] Brad Friedel

[Inta Beaver]

Apparently it is going to be announced tomorrow that Friedel is going to be declared bankrupt. He has taken loans out with RBS to finance his acadamys in the USA and can't make the repayments.

This is a shame as in my eyes Friedel has been a model professional and a Rovers legend.

I've heard this off someone who's company is dealing with the case.

[roverwhelmed]

[roversmum]

Oh dear that is so sad.

[BuckyRover]

Poor Brad

[J*B]

Charity bucket time?

I know there will be the predictable "he's earnt enough in his career" but, he's invested all of it by the looks of things into millions of peoples futures.

[modes98]

Surely the money on his contract should cover his repayments, if they don't then he hasn't been very clever in his investments. I feel sorry for him but we all have money problems.

[BuckyRover]

It might be to do with the massive devaluation of sterling over the last few years.

Maybe he believed we had abolished boom and bust.

[Seggie]

Sad if true, I know from reading his book he is quite passionate about his academies and helping future generations.

[Tom]

Good luck Brad hope he can sort himself out.

[andyrover]

i thought he chose villa because randy was goin to help with the project??? sad if true

[Steve Moss]

I hope this isn't true. I've always liked Brad. He's a man with a heart.

[Mr. E]

i thought he chose villa because randy was goin to help with the project??? sad if true

yeah. if Villa are gonna spend 25 million on Darren Bent, they can't help him out a little?

[Iceman]

What about Sponsors? Is it funded purely out of his own pockets? Bit sad that, and wish him well and hope he sorts it out.

[SAS]

I think a couple of other ex footballers are involved too.

[Wilsbowski]

Bit of info

http://chronicle.northcoastnow.com/2011/01/20/foreclosure-filed-on-former-lorain-soccer-academy/

[bellamy11]

Not entirely the same situation, but the story reminds me of this excellent article:

Why sports stars go bankrupt

Hope things work out for Brad - a Rovers legend and seemingly an incredibly decent man.

[Gav]

Apparently it is going to be announced tomorrow that Friedel is going to be declared bankrupt. He has taken loans out with RBS to finance his acadamys in the USA and can't make the repayments.

This is a shame as in my eyes Friedel has been a model professional and a Rovers legend.

I've heard this off someone who's company is dealing with the case.

He did mention that his move to Villa was influenced by Randy Lerner, who could help with his academy’s in the US if memory serves me correctly.

[CaliRoverNYC]

Thats too bad most soccer "academies" in the US are pay to play, its sad to see one where poorer kids were given a chance fail like this.

[DP]

Trying not to read between the lines it looks like it's simply been a huge property investment gone wrong.

It's been an admirable investment but surely one that should have been in partnership with a number of other key investors. Actually surprised a bank didn't get involved and package it up in some sort of property derivative.....

Hopefully, Brad won't personally be in too much trouble. Another year in the PL and he'll have $3-4 mill in his back pocket and be rich enough to retire once again. (Astounding really)

It's a big shame though and yet a blatent example of how the US sports association bodies have no interest in football as a long term revenue generator. And this is another reason why the US will never be a major force in world football.

[Valois]

Confirmation of poor Brad's plight, he and his company almost £5m in debt -

http://uk.eurosport.yahoo.com/21012011/58/premier-league-villa-keeper-friedel-declared-bankrupt.html

[broadsword]

That's the academy that is £5 mill in debt. How much of that Brad actually owes will be down to legal niceties.

I would hope he's not liable for the whole sum.

[Guest linganzi]

Did he agree terms with jw on a new contract then leave as soon as villa sniffed? Nor a bad keeper to say he never left his 6 yard box.

[Wilky]

www.thisislancashire.co.uk/news/8806645.Former_Blackburn_Rovers_keeper_declared_bankrupt/

[Mercer]

www.thisislancashire.co.uk/news/8806645.Former_Blackburn_Rovers_keeper_declared_bankrupt/

Banks don't usually go to these lengths if payment is expected "soon" (as per the article).

Brad seemed a decent guy and a good servant for us, so hope it all works out.

He wont be the first, nor the last, to lose big money on a venture.

[CaliRoverNYC]

It's a big shame though and yet a blatent example of how the US sports association bodies have no interest in football as a long term revenue generator. And this is another reason why the US will never be a major force in world football.

Its a small town in rural ohio, you cant possibly expect the USSF to step in and bail out brad's private academy at the expense of their own budget and their own academies.