The North Texas academy co-founded by NFL Hall of Famer Deion Sanders remains in financial disarray and will close immediately, the Texas education commissioner says.
Commissioner Michael Williams says in a statement that a state-appointed board of managers voted Friday to close the Dallas and Fort Worth campuses of Prime Prep Academy.
Williams says the hope was that the charter could survive through the academic year, but "the financial resources simply aren't there."
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He says the "upheaval" of finding other schools for hundreds of students could have been avoided had academy leaders earlier "acknowledged their financial issues."
An administrative judge earlier this week granted a default judgment that effectively revoked the school's state charter.
The academy was awarded the charter in 2011 and it opened to students a year later.