Former Red Sox pitcher Curt Schilling, joining Dennis & Callahan in studio for 90 minutes Friday morning, said he is "tapped out" financially following the demise of his video game company.
Schilling said he invested "just north of $50 million" of his own money and lost it all. "I'm tapped out," he insisted.
Schilling said he sat down his family about a month ago and explained to them that "38 Studios was probably going to fail and go bankrupt, and that the money that I had earned and saved during baseball was probably all gone. And that it was my fault. And that they might start hearing some things in school and things like that. And let's be clear: We're not talking about a terminal illness or somebody dying. But it's a life-changing thing. It's not a conversation I would wish on any father, or on anybody. But I had to do it, and explain to them that part of growing up is being accountable. This was my decision to do this, and I failed. And life would probably start to change and be very different for us."
Asked if he prepared for a worst-case scenario when he formed 38 Studios, Schilling said he did.
"This was always a potential, but never in my wildest dreams did I ever expect we'd be either here or close to here up until about two months ago," he said. "It all happened so fast. It's been kind of a surreal 60 days, 75 days."
Added Schilling: "In my mind we were on our way to building literally a world-changing company."
Schilling acknowledged that he and his leadership team "made a lot of mistakes," but he also made it clear that he feels Rhode Island Gov. Lincoln Chafee shares in the blame. Rhode Island lured 38 Studios from Massachusetts with $75 million in loan guarantees, but when the company missed a loan payment in May, Chafee publicly questioned the future of the company, indicating he was working to keep the company "solvent."
Said Schilling: "That word, it was an enormous problem immediately for us."
Asked if he thought Chafee was disappointed in the studio's demise, Schilling said: "No, not at all. I think he had an agenda and executed it."
Schilling explained that a key to the company's success was getting investors, but, "We could not raise private capital." The company was in advanced discussions with a potential investor when Chafee went public with the company's problems in May, and Schilling said that scared away the investor. "The conversations ended immediately," he said. "I knew then that we were in a world of hurt."
For more highlights from the interview, check the Full Count blog.
We check in with former Patriot and current ESPN analyst Tedy Bruschi for his take on a week of bad news in the NFL, and his thoughts on the Patriots rebound win over the Minnesota Vikings.
We check in with Big Vince after the Patriots secured their first win of the season over the Minnesota Vikings.
We check in with Bill Belichick on a Patriots Monday for his thoughts on the Patriots win over Minnesota, and what the Pats will face in the home-opener against the Raiders. Bill also declined to comment on the 'league-matters' including the Adrian Peterson case.
Jackie Mac joins the guys to discuss her thoughts on a possible mid-season tournament in the NBA, LeBron's return to Cleveland, trade rumors with the Celtics and Red Sox, and Darrelle Revis' contract situation.
Jackie MacMullan of ESPN Boston to talk about the Lebron James Saga, the possibility of Rajon Rondo being traded, and the future of Marcus Smart.
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DJ discusses Shawn Thornton's new deal, and the on going negotiations with Jerome Iginla
DJ Bean joins the program to dismiss the recent rumors that the Bruins are in discussions to trade Brad Marchand to the Sharks for Patrick Marleau
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Julian Edelman had 6 catches and a TD to help the Pats even their record at 1-1. He spoke with Lou, Christian, and Tim to talk about Chandler Jones' lightning speed on the FG block return.
We check in with Big Vince on a Patriots Monday after win one of the season over the Minnesota Vikings.
An impassioned Dale Arnold and Michael Holley discuss the child abuse case of Adrian Peterson, and how the Vikings wasted little time in reinstating him to active duty after sitting him for one week vs the Patriots.
Co-founder and chairman of the Boston Beer Company, Jim Koch, talks about his Sam Adams beer and the history of his brewery.
Danny picard is filling in for Mikey and talks with CSNNE's Mike Giardi about Clay Buchholz heading up the Red Sox pitching rotation, and how the Patriots have looked through training camp so far.
Mut and Villani are talking about whether the Red Sox will give Jon Lester the type of contract he is looking for, or whether they might be shopping him with rumors of the Red Sox scouting Cole Hamels.
John, Gerry and Kirk's first ever post show podcast. Enjoy.
The 100th Minor Details podcast revisits some old friends, as WEEI.com's Rob Bradford, Red Sox assistant GM Mike Hazen and MLB.com prospect guru Jim Callis, who were the guests on the first show in November 2010, join the show anew.
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