Curt Schilling agrees to pay back $2.5 million to the State of Rhode Island

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Back in 2012 the State of Rhode Island sued Curt Schilling and his business parters in 38Studios in the wake of the collapse of the company. The suit centered on $75 million in loan guarantees from the state to Schilling’s video game company. Rhode Island claimed that Schilling and his partners committed fraud, alleging that they mischaracterized the business prospects and health of the company and claiming that they knew that they couldn’t pay back the loan. Schilling has vehemently and consistently denied the allegations and claimed that he was a scapegoat, blamed by politicians for political purposes.

I’m sure there was some degree of truth to each side of that, along with a heaping helping of B.S. to both sides of that. What’s clear is that after several years of civil litigation and criminal investigation, nothing has come of it for anyone. It was probably a good time to settle. And so they have:

Former Red Sox pitcherCurt Schilling and others have agreed to pay $2.5 million to settle their part of a lawsuit brought over Rhode Island’s disastrous $75 million deal with 38 Studios, his failed video game company.

Schilling and his co-defendants admit not wrongdoing or liability as part of the settlement. The statement issued by the State that it “makes no economic sense whatsoever” for the parties to proceed to trial rather than settle, suggests that, even if liability could be shown, there was no way that they were going to get much more than this out of the defendants, making this a settlement of efficiency more than anything else. There are still various actions in play against banks and financial advisors and stuff, all of whom have deeper pockets than Schilling and his partners.

Now Schilling can turn the page on this and get back to doing what he truly loves: sharing awful political memes on social media while entertaining delusions about his future political career.

(thanks to Bert Beaton for the heads up)