It’s hard to imagine a guy making more than £40,000 running out of money, but it’s happened to Brad Friedel.
The former U.S. International and Aston Villa keeper owes about £5 million, according to a English court.
Apparently, an academy he opened in Ohio a few years ago is the source of his financial woes, and he seems hopeful that he can get it sorted out soon.
“This is a technical bankruptcy and it is not anticipated that it will be in place for long as an application for an annulment will be submitted in the next few days,” a spokesman for Friedel said.
“Arrangements are in place to deal with the issues which gave rise to the bankruptcy.”
“I don’t make any money on it,” Friedel told The Birmingham Mail, adding that the academy was a non-profit venture.
There aren’t many more details than that, but here’s hoping that he gets everything worked out soon.
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kingsnake
January 25, 2011 at 7:57 am
Friedel made the mistake of not incorporating his academy so that the academy’s debts would be separated from his personal assets. If he had done that, the academy would be bankrupt, but not himself.
Dave C
January 25, 2011 at 8:57 am
If you’re right, then he’s incredibly dumb. You would think GBP 40k per week could cover the cost of some basic financial advice if nothing else???
Gazza
January 25, 2011 at 12:26 am
Shouldn’t that be ‘a guy making over 40,000 pounds PER WEEK’ ?
Dan
January 24, 2011 at 6:38 pm
lol, Forlan to Sounders! HAHAHAHHAHAHA
there are so many reasons why that couldn’t happen I don’t even feel like beginning. I do want to say that just because Fernandez is Uruguayan doesn’t make him his buddy, they might hate eachother?
I see Forlan in NY or LA colors way before Sounders. Perhaps even the Cosmos? He isn’t done in Madrid for at least another year
Dave C
January 24, 2011 at 4:07 pm
Randy – this article sounds like a mis-representation of the Birmingham Mail article (which wasn’t particularly detailed in the first place). The article says he’s involved in a bankruptcy battle, not that he himself has been/will be declared bankrupt.
His soccer academy is going bankrupt (not surprising when according to the article, the business is dependent on youngsters handing over GBP20k per year in fees). I would be VERY surprised if he hadn’t set up the academy as some sort of LLC/Ltd Corporation to protect himself from personal financial problems when the academy runs into trouble.
Brian
January 24, 2011 at 2:00 pm
No good deed goes unpunished, I suppose.
Charles
January 24, 2011 at 1:56 pm
How about the Sounder’s making a play for Diego Forlan ?
It is the typical, I can’t play for a big team, so I will “retire” in MLS….with a twist he is not retiring, he is in his prime and MLS can afford him.
I think he is a perfect candidate to move to MLS.
1 his buddy is on the team
2 he plays on one of the losers, that team is going nowhere fast
3 his upside was bruised when Man U rejected him
4 Sounder’s can probably make it work financially
Landon Donovan II, eh ?
Dave C
January 24, 2011 at 4:20 pm
Hmmm…a little off topic eh?
Forlan could be possible. I’d be surprised though (I think a lot of decent European teams would be interested in him), but he’s at almost the same age as Thierry Henry was when he moved, so who knows. As always though, you’re really clutching at some straws in your arguments.
I mean seriously – a team of losers that are going nowhere fast??? They’ve been in the Champions League two out of the last three years, they’re the current Europa League holders and UEFA Super Cup holders, and they’re traditionally the third best team in Spain. Sure, they’re not Barca or Real, but to say they’re losers and going nowhere fast is a real stretch.
And “his upside was bruised when Man Utd rejected him”? What does that mean – sorry if this is some cool-dude slang that I’m not familiar with. Given that he’s been in pretty great form ever since leaving Man Utd, having his upside bruised obviously hasn’t traumatized him too badly.
Not sure how he’d be “Landon Donovan II” either?
Don’t get me wrong though, I think it would be a great coup if the MLS could get him.
Charles
January 24, 2011 at 5:09 pm
Landon II = Good enough to play elsewhere but plays in MLS.
I didn’t care about Friedel’s BK….good luck Brad. Feel for you. My professional blog posting is taking me there too.
I dont think I am grasping at straws at all and Joe you can throw out all the Europa competitions that you want. They are 25 points behind Barca, having scored less than 1/2 as many goals as them.
Why do you think all these retirees want to come to MLS ?
Because they CANT be picked up by someone else in the middle of the standings. No…they can…Even Ljungberg can play for Rangers.
They don’t want to spend season after season trying to finish 10th.
Do you really think that Diego Forlan is happy playing on a team that is 9 wins and 8 losses ? With no improvement prejected ? Ever.
I know I am talking to ears that won’t listen, as you all thought that Landon would go play for a close to relegation Everton team. But you have to say, there is a slight, tiny possibility that they don’t want to be in that situation. Maybe ? I will give you a hint….NOONE DOES ! We have all been there ! It stinks !
I predicted the retirees would happen with the extra DP money and it did. I am telling you, he is not going to be the last non-retiree guy that tries to go to teams that can afford them..Henry did it, now Forlan is considering it..Sounders are one of the few that can pull it off money-wise however.
25 points behind. Man, that is a looooooong season ahead.
Dave C
January 25, 2011 at 10:07 am
Landon II = Good enough to play elsewhere but plays in MLS
Hmmm maybe, although it remains to be seen whether Forlan would come to the MLS. However, if he did, wouldn’t a more appropriate analogy be an Henry/Marquez/Angel II? i.e. foreign, over 30 but not yet over the hill.
Again, I agree with you that PERHAPS the MLS could get Forlan. I think it’s a long shot, but so was Henry and that worked out. But I don’t get why all your posts have to be a constant MLS vs Europe thing, it comes across as a real inferiority complex.
I dont think I am grasping at straws at all and Joe you can throw out all the Europa competitions that you want. They are 25 points behind Barca, having scored less than 1/2 as many goals as them.
OK we get it, La Liga is a ridiculous two-horse race these days, and that probably won’t change for a while. But you can’t just act like the European competitions count for nothing. They’ve been in the Champions League twice in the last three years, and they won the Europa League. They’re in with a pretty good shout of qualifying for the Europa League again this season. Hardly the stuff of “losers”. Or maybe you’re right, maybe he’d rather play for the glorious Seattle Sounders, who managed to finish bottom of their Concacaf Champs league group, behind the mighty Sarprissa and Marathon.
Why do you think all these retirees want to come to MLS ?
ALL these retirees?? You mean all three/four of them? There’s hardly a queue of guys beating down the door to get into the MLS.
Because they CANT be picked up by someone else in the middle of the standings. No…they can…Even Ljungberg can play for Rangers.
Actually Ljungberg is a pretty bad example for your case. Sure guys like Henry and Marquez could have found other European teams, in their case probably doing even better than mid-table. But in Ljungberg’s case, he’d been bumming around at West Ham, where he was too old and frail to get a game before heading for the US. Playing for Rangers proves nothing. Scotland has a really weak league, as shown by the fact that their star players usually go on to be journeymen at places like Blackburn and Birmingham.
Do you really think that Diego Forlan is happy playing on a team that is 9 wins and 8 losses ? With no improvement prejected ? Ever.
Well firstly, Seattles record last year was 14-10. i.e. not spectacularly better than 9-8.
Secondly, if he’s not happy with that record, then he and the rest of the team will strive to improve it. If players who were unhappy with being midtable simply packed their bags and flew over to MLS, EVERYONE would be doing it. Pretty much everyone at any midtable Spanish team could get into MLS. Why don’t they?
Thirdly – no improvement predicted ever?? Given that they finished fourth twice in the last three years, and they’re probably the third most popular team in Spain, why do you think they won’t EVER improve on their current position?
I predicted the retirees would happen with the extra DP money and it did
No sh*t, Nostradamus! So offering loads of money to players might convince them to play for you, who’da thunk it?
now Forlan is considering it…
Is there any actual reliable quotation of him talking about this? From what I’ve heard, this Forlan-Seattle rumour appears to be based on an interview he gave in Spanish, and most people seem to be saying simply that he said he would consider playing in MLS before he retired (i.e. not necessarily any time soon – maybe when he’s 37 for all we know).
Footballers often get asked how they want to wind down their career, and for as long as I remember, the cliche answer has been to say they’d consider playing somewhere like the US, middle-east, Australia, etc. I guess it sounds more glamorous than saying “well I’ll probably tool around at Oldham FC or Colchester Utd in the lower divs, battling niggling injuries and looking a shadow of my former self”. I wouldn’t count your chickens before they hatch just because Forlan has said the same.
Joe
January 24, 2011 at 4:24 pm
Charles, you’re no better than the people who make ignorant comments about MLS when you make ignorant comments about La Liga. A team that is constantly in major European competition plus just won the UEFA Super Cup over Euro Champion Inter in August is “one of the losers”? Yes, I’m sure Forlan would much rather come play in the glorious CONCACAF Champions League.