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.