NewburyportNews.com, Newburyport, MA

Sports

October 5, 2012

Ex-Sox star Schilling might have to sell bloody sock

PROVIDENCE, R.I. — Former Boston Red Sox pitcher Curt Schilling might have to sell or give up the famed blood-stained sock he wore on the team’s way to the 2004 World Series championship to cover millions of dollars in loans he guaranteed to his failed video game company.

Schilling, whose Providence-based 38 Studios filed for bankruptcy in June, listed the sock as collateral to Bank Rhode Island in a September filing with the Massachusetts secretary of state’s office. The sock is on display at the National Baseball Hall of Fame and Museum in Cooperstown, N.Y.

Schilling also listed a baseball hat believed to have been worn by New York Yankees great Lou Gehrig and his collection of World War II memorabilia, including some the filing said is being held at the National World War II Museum.

Schilling told WEEI in Boston yesterday that possibly having to sell the sock is part of “having to pay for your mistakes.” He said that “I put myself out there” in personally guaranteeing loans to 38 Studios and is seeking what he called an amicable solution with the bank.

“I’m obligated to try and make amends and, unfortunately, this is one of the byproducts of that,” he told the station.

Hall of Fame spokesman Brad Horn declined to say whether Schilling has asked for the sock, on loan since 2005, to be returned.

The Boston Globe first reported the filing yesterday. It said Schilling personally guaranteed as much as $9.6 million in loans from Bank Rhode Island and $2.4 million in loans from Citizens Bank related to 38 Studios.

Richie Russek, owner of the Westhampton, N.Y.-based Grey Flannel Auctions, who is featured on The Discovery Channel series “All Star Dealers,” estimated the bloody sock could sell for $50,000 to $100,000.

38 Studios — which was lured to Rhode Island from Massachusetts with a $75 million state loan guarantee — had a spectacular collapse. Its financial problems spilled into public view last spring when it missed a $1.1 million payment to the Economic Development Corp. Within weeks, 38 Studios had laid off its nearly 300 employees in Providence and 100 more at an affiliate in Maryland ahead of a bankruptcy filing in June.

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