Curt Schilling Lost “His Entire Baseball Fortune” When 38 Studios Collapsed

Hundreds of lost jobs wasn’t the only damage caused by the collapse of 38 Studios, as we learn in this recap of a WEEI-FM interview with Curt Schilling on SportsIllustrated.com that the former Red Sox pitcher lost “his entire baseball fortune” of more than $50 million when the company was forced to declare bankruptcy on June 7th. On top of that, Curt has been forced to take a leave of absence from his ESPN analyst position to deal with all of the post-bankruptcy issues, so his income has obviously taken a major hit as well:

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.

Sad news all around on this deal.