Former Red Sox pitcher selling famed 2004 World Series sock in effort to pay off debt to Rhode Island over 38 Studios bankruptcy.
Former Boston Red Sox ace pitcher Curt Schilling, whose game company 38 Studios went bankrupt last year, has agreed to sell his famed bloody sock from the 2004 World Series. The Associated Press reports that online bidding will begin around February 4, with an in-person auction to be held February 23.
The sock is expected to net at least $100,000.
A controversial $75 million loan from the state of Rhode Island in 2010 enticed 38 Studios to relocate from Maynard, Massachusetts, to Providence, Rhode Island. In May 2012, the company laid off its entire staff and filed for bankruptcy a month later, leaving Rhode Island on the hook for an estimated $100 million.
Schilling had personally guaranteed many of the loans, listing the sock, among other memorabilia items, as collateral. According to a September agreement, Schilling is bound to sell the sock to repay lenders.
The bloody sock in question is one of two that Schilling became famous for. The other is from Game 6 of the 2004 American League Championship Series, during which Schilling famously fought through an ankle injury against the New York Yankees. This sock, stained with blood from Schilling's effort, is rumored to have been thrown out in a trash can inside Yankee Stadium.
Schilling is believed to have invested as much as $50 million in the failed 38 Studios. He told Boston sports station WEEI last year that he was prepared to sell the sock, noting, "I have debt. I have obligations. I put my name to it."
38 Studios will not face federal charges related to its bankruptcy, but the state of Rhode Island is currently suing Schilling and other architects of the loan. The state levied 17 counts of wrongdoing against Schilling and others, including counts of fraud, unjust enrichment, civil conspiracy, breach of implied covenant of good faith and fair dealing, negligence, legal malpractice, negligent misrepresentation, fraudulent misrepresentations and omissions, and breach of fiduciary duty.
Invested $50 million of his own money. How stupid can you be. lol!! If you have $50 million dollars and you want to invest in a company you believe it, you give them maybe $1 million and send them on their way. I definitely wouldn't have taken a load from the state of R.I.. The game did turn out to be pretty good. I love it, but it didn't get much hype, so it didn't sell very well. The problem was they used a lot of the loan money to work on their MMO Copernicus at the same time before they started getting money back from Kingdom of Amular. By the time that game launched, the $75 million was gone. They had over 300 employees, which is ridiculous. Yes, they were support to higher 450 new employees by the end of 2012, but that was way too many people When you have to pay 300+ people between $50K $100K a year, that money is going to go pretty fast. Plus you have to pay the lease on the building every month. They obviously didn't budget the money right and shouldn't have started working on the 2nd game until the first game was completed. Shilling will be paying this loan back for the rest of his life. I suggest he get a job on ESPN or something.
...Any sports fan that ever accuses you of getting too fanatical over games, just shoot 'em, avoids argument and debating over 'confusing statistics.'
maybe I'm missing something but what does this have to do with gaming? either way being a non-american gamer who would change the tv channel if a sport program of any kind came on I can confirm that this is just a nasty fucking sock, and worth far less to me than a pair of new socks from the menswear isle.. oh wait I see, 38 studios was the company that made that kingsdoms of alamur game. nvmind
I never understood the mentality of sports "fanboys". These guys treat athetes like Gods and worship them, this is ridiculous. Hell, they would be happy to let these athletes have sex with their wives. I am serious. I never understood this mentality, especially when you think about the huge amount of steroid users and cheaters in professional sports.
@nurnberg Aaaand we wouldn't see this for like Bruce Campbell or Cliff Blezenski among other famous people, lol.
This article reminded me of Married...with children where Al Bundy's sweatstain looked like Elvis lol, Greatest Sitcom Ever!
oh geez.. why even stop there? he should just try and sell his crusty ass underwear from the same damn game while he's at it.. i'm sure some idiot would buy that too :P
Hopefully no one make the mistake of washing this before the auction... this is a sign of desperation if I've ever seen one.
$ 100,000 sock and not even clean. Should've come with a pair. I think Mankind's Socko is worth more than this.
I knew this company would fail back when he used to do World of Warcraft podcasts (The Instance) about 5 years ago. The guy was terrible on his hunter and never understood the game mechanics of it...and this guy wants to run a game company?
it looks more like a poop stain....but lemme not give Schilling ideas soon he will ebay auction poop stained boxers....
Schilling sounds like a good man caught in a very bad situation
I'm not american but can understand the sentimental value attached to a pair of bloodied socks; so hopefully it'll make a decent amount of money for him to clear off some of the debts
@keyb0red No, he's a horrible piece of crap. He's the conservative that was vehemently against government bailouts and then when his company went under he started begging for the gov to bail him out. What a piece of hypocritical garbage. Also, let's not forget all the employees he screwed over who lost their houses.
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@kungfuj0 ^bitter Yankees fan who still can't let it go.
Actually no. I can't stand the ****ing Yankees either. I hate both of them mutually, as they are both THE most over-covered and over-blown sports franchises of all time. If I had my way, MLB would contract BOTH of them and be done with the whole deal. Of course if it did that, ESPN would implode and probably cease to exist, and I'm not all together sure that would be a bad thing at this point!
I thought KOA:R was a good game, such a shame the financials weren't handled appropriately and the game didn't sell well.
Poor guy, as a Red Sox fan I'm sad to see this happen. I wish his game was better, but it was just very bad... He's a good person who is in a very, very bad time of his life.
receive bloody-sock of the Warsworn
*bring before the court of Winter Fae*
-only 99 more steps to complete this quest-
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