Curt Schilling is broke—loses more than $50 million in video game company
Curt Schilling is broke–dead broke actually. All the money he made during his 20-year career has been lost in a video game company called 38 Studios.
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.
It’s becoming more and more common these days for athletes to go bankrupt within years of retirement. Most of them duped by people close to them—agents and managers who don’t always have their best interests at heart.
In the case of Schilling, however, this appears to be of his own doing. 38 Studios was his brainchild, his baby, his masterpiece. He got ahead of himself, spent money he simply didn’t have and couldn’t raise. A no-no for anybody with business sense.
It’s an unfortunate situation for Schilling but one he’ll undoubtedly bounce back from (an analyst job awaits him at ESPN). The 300 employees he laid off? Yea, they’re going to have a more difficult time getting back on their feet.