Schilling: Company crash cost me baseball fortune

PROVIDENCE, R.I. — Former Boston Red Sox pitcher Curt Schilling said Friday that the collapse of his 38 Studios video game company has probably cost him his entire baseball fortune, and he placed part of the blame on Rhode Island officials, including Gov. Lincoln Chafee.

Schilling said during a 90-minute interview on WEEI-FM in Boston that he put more than $50 million of his own money in the company and that he’s had to tell his family that “the money I saved during baseball was probably all gone.”

Schilling said he hopes to return to work soon as an analyst for ESPN. He took a leave of absence from the network after 38 Studios filed for bankruptcy protection on June 7. The firm was lured to Providence from Massachusetts in 2010 after Rhode Island offered a $75 million loan guarantee. The state is working to determine how much it’s on the hook for after the company’s collapse.

While he conceded that he “absolutely” was part of the reason the company failed, he said public comments made by Chafee last month questioning the firm’s solvency were harmful as the firm tried — but failed — to raise private capital to stay afloat.

“I think he had an agenda,” Schilling said about Chafee.

Chafee vocally opposed the state’s loan guarantee to 38 Studios when he was running for governor in 2010. But after it was a done deal, he was the company’s “biggest cheerleader,” Chafee spokeswoman Christine Hunsinger said Friday. She had no other immediate comments on Schilling’s interview.

Schilling also accused Chafee of failing to work with an investor who was willing to put $15 million to $20 million into the company to help it succeed. He said the investor walked away because of Chafee’s inaction.

38 Studios laid off its entire workforce — nearly 300 employees in Providence and more in Maryland — last month. That move came after it was more than two weeks late on a $1.1 million payment to the state; officials have said that was the first indication the company was in financial trouble.

The firm had sought millions of dollars in tax credits from Rhode Island as it struggled to stay afloat, but Schilling said Friday that he wasn’t looking for a bailout.

State and federal authorities, meanwhile, are investigating 38 Studios’ finances. Citizens Bank also has sued Schilling to recover $2.4 million in loans it made to 38 Studios.

Schilling, who also pitched for Baltimore, Houston, Philadelphia and Arizona, won the World Series three times and is perhaps best remembered for pitching Game 6 of the 2004 American League Championship Series with an injured ankle that stained his sock with blood.

Schilling said he hasn’t done anything wrong. He said he never took any money from the company, not even a salary. He said the company was close to succeeding but just couldn’t raise enough private capital. He also said he never intended to hurt the firm’s workers.

“It’s been kind of a surreal 60 days or 65 days,” Schilling said. “It’s crushing and devastating to see it fail the way it did.”

Schilling was asked how the company’s collapse has affected him personally.

“I don’t know. … It’s not over yet,” he said. “I would imagine the next foreseeable time in our lives is going to be consumed by this. It’s a life-changing thing.”

Story Continues →

View Entire Story

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments
blog comments powered by Disqus
Get Adobe Flash player
You Might Also Like
  • **FILE** In this April 23, 2013 photo, Cuba's former pitcher Conrado Marrero, the world's oldest living former major league baseball player, holds up a baseball with his signature at his home, two days before is 102nd birthday, as he holds an unlit cigar in his mouth in Havana, Cuba. (AP Photo/Franklin Reyes)

    Conrado Marrero dies at 102; ex-Senator was oldest living MLB player

  • Washington Wizards guard John Wall, left, and Bradley Beal celebrate the Wizards' 101-99 win as Chicago Bulls guard Kirk Hinrich walks off the court after missing two free throws during the overtime period of Game 2 in an opening-round NBA basketball playoff series Tuesday, April 22, 2014, in Chicago. (AP Photo/Charles Rex Arbogast)

    HARRIS: D.C. not yet spellbound by Wizards, but they’re no illusion

  • Washington Redskins quarterback Robert Griffin III watches Baylor and Central Florida play during the first half of the Fiesta Bowl NCAA college football game, Wednesday, Jan. 1, 2014, in Glendale, Ariz. (AP Photo/Rick Scuteri)

    Robert Griffin III to drive pace car before Richmond NASCAR race

  • Washington Wizards forward Nene, left, guards Chicago Bulls forward Carlos Boozer during the first half in Game 1 of an opening-round NBA basketball playoff series in Chicago, Sunday, April 20, 2014. (AP Photo/Nam Y. Huh)

    Early returns show projections of physical Wizards-Bulls series were correct

  • Philadelphia Eagles wide receiver DeSean Jackson (10) celebrates after catching a 25 yard touchdown in the first quarter as the Washington Redskins play the Philadelphia Eagles in Monday Night NFL football at FedExField, Landover, Md., Monday, September 9, 2013. (Andrew Harnik/The Washington Times)

    Dan Snyder: DeSean Jackson ‘really a good guy’

  • Celebrities In The News
  • ** FILE ** In this March 19, 2013, file photo, Justin Bieber performs during a concert at Bercy Arena in Paris. (AP Photo/Francois Mori, File)

    Justin Bieber apologizes for Japan war shrine trip

  • FILE - This Jan. 8, 2014 file photo shows singer Chris Brown, right, arriving at the District of Columbia Superior Court in Washington. After a brief postponement, singer Chris Brown's trial on an assault charge is scheduled to begin in Washington. Brown's trial had been set for Monday but was delayed while lawyers tried to work out whether his bodyguard will testify. It's unclear whether the trial will start Wednesday, as Brown's lawyers seem to want, or if further legal maneuvering will delay it.  (AP Photo/Manuel Balce Ceneta, File)

    Chris Brown assault trial delayed again

  • Justin Bieber seeks delay in Fla. DUI trial