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Just two years after opening with great promise (above), USA and Aston Villa legend Brad Friedel’s Premier Soccer Academies in Lorain OH - the first full scholarship soccer academy in the Unites States - is fighting for survival.

Story via NorthCoastNow

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“A bank Friday sued Brad Friedel’s Premier Soccer Academies in Lorain in Common Pleas Court, contending it is owed $7,579,107 from three unpaid loans.

The lawsuit was filed by RBS Citizens, National Association, which does business as Charter One.

The suit seeks a judgment and “immediate payment” on three loans plus interest totaling $6,171,164, $870,836 and $537,107. The suit stated the soccer academy had made some payments on the principal.

The suit also names Friedel as a defendant.

The $10 million facility opened two years ago to great acclaim as the first full-scholarship youth soccer academy in the United States. It operates as a not-for-profit corporation.

Several weeks ago, the academy canceled soccer programs for the summer and laid off most of its staff of about a dozen people.

Umland said on June 3 the academy was suffering from cutbacks in corporate sponsorship due to the poor economy. He said many companies preferred to hold onto an employee versus putting money into sponsoring students at the academy.

Umland said the academy would “strip down to the core” this summer and would attempt to offer its residential soccer program for a fee beginning in the fall.

He said it would require a yearly fee of some $37,500 and a minimum of 15 or so participants.

Umland also said he was working on a plan to open the state-of-the-art facilities to health club memberships costing $35 to $50 a month.”