Curt Schilling, the former Boston Red Sox pitcher whose failed 38 Studios video-game company triggered debate in Rhode Island over moral obligation debt, plans to sell off personal items from his Medfield, Mass., home on Oct. 12.
The Boston Globe reported that CosignWorks Inc. of Dudley, Mass., will manage the estate sale, mostly consisting of "the more mundane items of Schilling's domestic life," including candlesticks, couches and artificial potted plants.
Schilling received a $75 million loan guarantee, backed by the state's moral obligation, from the Rhode Island Economic Development Corp., in 2010 to move his company from Maynard, Mass., to downtown Providence, R.I.
The company went on to file for Chapter 7 liquidation last year, leaving state taxpayers on the hook for the loan guarantee. Political fallout forced an overhaul of the commission.
Rhode Island's legislature in June approved a $2.5 million payment for the first installment of 38 Studios debt after heated debate. Gov. Lincoln Chafee proposes the state pay roughly $12.5 million for each of the seven following years.
The EDC last month confirmed that the Securities and Exchange Commission will investigate the deals. The EDC is also suing Schilling in Rhode Island Superior Court, maintaining that Schilling and other executives misled state officials about the company's deteriorating financial condition.
The so-called bloody sock that Schilling wore when he pitched the Red Sox to a critical playoff-game victory in New York in 2004 was auctioned off for nearly $93,000 earlier this year. Rhode Island, though, will see none of that money, Schilling having listed the sock as collateral in a Massachusetts bankruptcy filing.
Schilling helped win two World Series titles in Boston and an earlier one with the Arizona Diamondbacks.
