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View Full Version : Schilling says he's "tapped out" after 38 Studios implosion


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06-22-12, 02:00 PM
In his first interview since Kingdoms of Amalur developer 38 Studios' abrupt failure (http://arstechnica.com/gaming/2012/05/kingdoms-of-amalur-developer-lays-off-entire-staff/) last month, famed Red Sox pitched Curt Schilling says he lost "just north of $50 million" of his own money trying to keep the studio he founded solvent, alongside hefty loan guarantees and investment from the Rhode IslandĀ*government.

"I'm tapped out," Schilling told sports radio station WEEI (http://fullcount.weei.com/sports/boston/baseball/red-sox/2012/06/22/curt-schilling-on-dc-im-not-asking-for-sympathy-after-losing-50m-in-business-collapse/). "I put everything in my name in this company. I believed in it. I believed in what we had built. I never took a penny from this company. I never took a penny in salary, I never took a penny for anything."

A recent bankruptcy filing showed that 38 Studios has only $22 million in assets against more than $150 million owed to over 1,000 various creditors, the largest of which is the Rhode Island Economic Development Corp. that guaranteed $75 million in loans to the company. Schilling is also personally on the hook for $2.4 million loan from Citizens Bank parent RBS Citizens. "The money I saved and earned playing baseball was probably all gone," he said. "Life is going to be different."

Read more (http://arstechnica.com/gaming/2012/06/schilling-says-hes-tapped-out-after-38-studios-implosion/) | Comments (http://arstechnica.com/gaming/2012/06/schilling-says-hes-tapped-out-after-38-studios-implosion/?comments=1#comments-bar)

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