In 1914, Charles Schwab set out to "buy" the best soccer players for the Bethlehem Steel Football Club. Schwab went as far as recruiting players from Scotland and England, the first club owner ever to do so. Several Hall of Famers would play for the team, but none of them were originally from Bethlehem.

A local recreational team comprised of Bethlehem residents began in 1907 as the "Bethlehem Football Club." Because of the great influx of European immigrants, soccer was more popular then than it is today in the United States. In fact, soccer was just as popular as baseball in the early 1900s.

After the Bethlehem Steel strike of 1910, Schwab attempted to improve his image by supporting various forms of entertainment in Bethlehem. The Bach Choir, the Lehigh Valley Orchestra, the public library, the Bethlehem Steel Band, a baseball and soccer team all received a flood of funds from Bethlehem Steel. Schwab spent $125,000 on a new stadium, gymnasium and athletic fields, located on eight acres on Elizabeth Street, that he had purchased from Moravian College. It was named "Bethlehem Steel Athletic Field" and was the first soccer field with stadium seating in the country. That stadium was purchased by Moravian College and is still in use today as "Steel Field." There is a plaque dedicated to the soccer team under the grandstand.

During World War I, players jumped at the chance to play for Bethlehem Steel. They had the choice to either enlist or find employment in a war-related industry. These new team players were richly rewarded, earning more money playing soccer than at the steel mill. They did their patriotic duty by playing several matches to raise money for the War fund.

The Bethlehem Globe newspaper went into great detail about the Bethlehem team, often publishing illustrated game information on the front page. The team was the first U.S. soccer team to be endorsed by a sporting goods company. Spaulding ran ads with photos of the team wearing Spaulding blue uniforms.

In 1916, the team, then known as the Bethlehem Steel Football Eleven, won both the National and American challenge cups, a feat never before accomplished. That year the team was invited to play in Sweden and Norway. There was concern that they would become a target of a German submarine on their voyage over, as Bethlehem Steel was supplying munitions to England. The team decided to take the risk, allowing several of its Scottish and British players to take the opportunity to visit their families during the trip.

From 1913 to 1919, Bethlehem Steel would win the American Cup five times and the National Challenge Cup four times. Their manager was Horace Edgar Lewis, who was also vice president of Bethlehem Steel. Their coach/player was Billy Sheridan, who went on to coach wrestling at Lehigh University. Hall of Fame players on the team were Paddy Butler, "Mudhorse" Easton, Jack Lance, Harry Ratican, William "Billy" Sheridan and Harry Trend.

The Great Depression and the American Soccer League's prohibition of the sale of beer during games would lead to the decline of professional soccer in the United States. Baseball was affected as well by declining admissions, but weathered through the depression by selling scorecards and beer. Bethlehem Steel stopped funding the team in 1930. Just a few years before, thousands of fans would watch the Bethlehem Steel soccer team; however, when the Great Depression hit, many of those fans could no longer afford admission.