Photo: AP
The fight between ex Red Sox pitcher/38 Studios founder creator Curt Schilling and the Rhode Island officials who shut his studio down seems far from over, with Schilling breaking his silence and shifting the blame to — who else? — R.I. governor Lincoln Chafee.
According to The Providence Journal — which also features the picture of a very forlorn-looking Schilling as he wanders the empty corridors of 38 Studios — the 38 Studios owner says his company’s failure is largely due to Chafee’s broken ‘financial promises’ and Chafee’s supposed sh*t-talking about 38′s financial situation, which he believes frightened off investors.
If you remember, it was about half a month ago that Chafee insisted the state was trying to keep the company ‘solvent’, or together. Not exactly the kind of thing investors like to hear, obviously, which is probably why one backed out of a $35 million deal to help finance a sequel for Kingdoms of Amalur.
Part of the reason 38 Studios even relocated to RI was the state’s ‘promised’ funding for the company, provided with $75 million in taxpayer-backed bonds.
Now that the company is on the verge of total oblivion, taxpayers will owe a total of $100 million to make up for the losses, and Schilling stands to lose $50 million of his own personal fortune (most of which he invested in building the company). He also says that the government bailed on the $1.2 million film/gaming tax break (which they’re legally entitled to according to R.I. law) it was supposed to give them, which would enable the studio to skip its $1.12 million payment due on May 1 and make its May 15th, and much more important, payroll deadline.
No such luck, of course, as that’s what led to this mess and Schilling having to lay off all of his employees. Schilling also denies that he sought a government bailout, which Chafee hints was the case.
I guess it’s inevitable that the blame would keep getting shifted around — and Schilling’s claims bring a different side to the story. But what about the poor employees? Shouldn’t Schilling be willing (ha) to share some of the burden for this debacle? Or does it stand to reason that Chafee’s remark, which scared off investors, makes him more to blame?
Full article: http://www.jacehallshow.com/blog/update-curt-schilling-now-blames-ri-governor-for-the-failure-of-amalur-and-38-studios/
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