founder and former Red Sox star Curt Schilling said he was "tapped out
" of cash in his first interview since the studio's demise. In a sympathetic radio interview on WEEI (via Boston Globe
) this morning, Schilling said he told his family last month, "The money I saved and earned playing baseball was probably all gone ... Life is going to be different."
Documents released after the company filed for Chapter 7
bankruptcy (liquidation) show that the studio owed $150 million to more than 1,000 entities, most of that debt
to the Rhode Island Economic Development Corp., and that the developer had less than $22 million in assets
. Rhode Island taxpayers will now have to spend approximately $12 million annually
until 2020 to repay the 38 Studios debt to bondholders
"The employees got blindsided
," Schilling said. "They have every right to be upset. I always told everybody if something were going to happen, you're going to have a month or two of lead time, and I bombed on that one in epic fashion."
Schilling also confirmed they were on the verge of signing a $35 million deal for a sequel to Kingdoms of Amalur: Reckoning
, the company's RPG project by Big Huge Games, but talks collapsed once RI Gov. Lincoln Chafee made statements about the studio's precarious financial situation
. He also said Reckoning
didn't bring in revenue to the studio because it still had to repay an advance to publisher Electronic Arts.