Too Big To Fail? Baseball Great, Curt Schilling Asking R.I. to Bailout “38 Studios”.
The man who gave us the legend of “The Bloody Sock” needs help and he’s asking Rhode Island taxpayers to foot the bill. Seems Curt, needing something to do after being legendary at baseball, started a video game company called 38 Studios (but not before calling it “Green Monster Games” and tattooing it on his arm. Red Flag anyone?) and moved it from Massachusetts to Rhode Island on the promise of a controversial $75 million dollar loan guarantee. 38 Studios promised to create 450 jobs over three years and despite a fairly well reviewed first offering in “Kingdoms of Amalur: Reckoning”, sales were meh.
So Schilling’s shiny new toy didn’t fly off the shelves or excite the masses after all and a waterfall of expected riches failed to materialize. It may have been a little naive for Schilling to presume he had the next “Skyrim” in production and All-Star athletes tend to believe they can do anything. So projecting that 38 Studios would hum along at a rate where paying back a $75 million dollar loan is an afterthought, is totally in character.
But it was disappointing to hear that Schilling had gone to R.I. Governor Lincoln Chaffee and the state’s Economic Development Corp with hat in hand. Schilling would not answer specific questions about the meeting, saying only, “My priority right now is to get back to my team.” I don’t know, Curt. It sound’s like your team could use more than a reliable fastball from you. Schilling had been very vocal about bailouts, yet this action would seem to be in direct opposition to some of Schilling’s long held and publicly stated beliefs
38 Studios hand delivered a check to the EDC but apparently it bounced like a nasty splitter in front of home plate and they haven’t made payroll either. It’s not looking good for our baseball hero and his 38 Studios. Defaulting on the loan means after interest, Rhode Island isn’t going to see $112 million dollars it was counting on when it made this deal. I think the value of Curt Schilling memorabilia just took a hit too. Stay tuned for further developments.