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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSchilling talks about company crash
BOSTON -- Former Boston Red Sox pitcher Curt Schilling said Friday that the collapse of his 38 Studios video game company probably has 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."
"I'm tapped out," he said.
Curt Schilling said he lost more than $50 million but is "not asking for sympathy."
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.
Although Schilling 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.
http://espn.go.com/boston/mlb/story/_/id/8084138/former-boston-red-sox-curt-schilling-says-baseball-fortune-all-gone-company-crash
So it's about 50 million of his own cash, 78 from Little Rhody, plus another few million from other investors??
Romulox
(25,960 posts)FSogol
(45,488 posts)they made zero changes. They had 200 employees and didn't furlough or lay a single person off. They did nothing. Many people in that firm worked their last 6 weeks without getting a paycheck. When 200 people lose their job and Schilling loses his cash, he blames the government. Go look in a mirror, Curt.
wilt the stilt
(4,528 posts)he is the route driver for budweiser.
denverbill
(11,489 posts)Surprised he doesn't have a national radio talk show by now.
Rex
(65,616 posts)IF SO, then the federal government would have bailed him out to the tune of 800 million dollars. Those are 1980 dollars fyi.
Egalitarian Thug
(12,448 posts)Sherman A1
(38,958 posts)and it is not a positive one from when I dealt with him long ago in the game business. His belief was that because he was a professional baseball player he understood the business end of the historical game industry and he really had no clue, just an ego and a pile of cash.
Initech
(100,080 posts)frylock
(34,825 posts)you just got jack slapped by the invisible hand of the free market that you bow down to. eat it, sucker!
GarroHorus
(1,055 posts)KharmaTrain
(31,706 posts)Yep...blame the system that he didn't have a solid business plan and was a decade too late in what he wanted to do. And that's Chaffee's fault? I find it semi-amusing that he threw so much of his money into a venture and didn't really nut anything away for his own future. He was so "cock-sure" he was gonna strike it rich and like a gambler with a serious addiction he had to go big and now has literally lost his house. I smell a divorce in his near future...
Blue_Tires
(55,445 posts)surprised that Schilling wanted to get into that field in the first place...It's highly competitive, even for hardcore gamers/programmers who have the passion and know what they're doing...It just looked like too much of a 'vanity venture' from day one...You're better off buying a piece of an already successful company...
KharmaTrain
(31,706 posts)I've seen my share of ventures heavy on ego and light on business smarts. Sadly the company employees...who I'm sure took only a fraction of that money are the ones who will suffer. I'm betting the banks made nice commissions and will now on in for whatever assets are left.
Cheers...
Ohio Joe
(21,756 posts)I don't give a shit that he killed 38 Studios but he had to drag down Big Huge Games as well.