Schilling Loan Shaved

September 8, 2010 -

Curt Schilling’s 38 Studios will have to make do with just a $51 million loan from Rhode Island’s Economic Development Corporation (EDC), as around one-third of the original loan amount of $75 million will be held aside for three years worth of repayments on the debt.

WPRI.com reported the news, citing a fact sheet issued by the EDC. After issuing the document, an EDC spokesperson indicated that the organization would no longer speak to reporters about the deal until it was finally closed.

While there was no mention of whether or not 38 Studios might eventually receive the $20 million or so being held aside, it was reported that, if approved, the deal would see 38 Studios receive $13 million right away, with another $38 million dispersed over the next 15 months, providing Schilling’s company meets certain goals and criteria.

Another “success fee” of between $15.3 and $18.8 million could be earned by 38 Studios, though no mention of terms and/or conditions were on the EDC fact sheet.

38 Studios also has until November 30th to find its new home, after which it must sign an enforceable 10-year lease.

The EDC loan helped lure Schilling and 38 Studios from their current Massachusetts home to neighboring Rhode Island and raised the ire of just about every politician in the Ocean State.


 
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Andrew EisenMechaTama - I was referring specifically to the link below my post. I should have been more clear. My bad.03/05/2015 - 2:42am
james_fudgefair point, let's say "excluding YouTube videos"03/05/2015 - 2:25am
MechaTama31The stuff after the ? is not *always* extraneous.03/04/2015 - 11:57pm
MechaTama31AE: But that would make your link https://www.youtube.com/watch , which wouldn't work so well... ;)03/04/2015 - 11:56pm
E. Zachary KnightFor those curious, that timeline came from Destructoid: http://www.destructoid.com/tomm-hulett-s-unified-mario-timeline-theory-288472.phtml03/04/2015 - 8:11pm
WymorenceJeez, who'd have thought Yoshi doing a good deed was the reason for everything in Mushroom Kingdom being so screwed up...?03/04/2015 - 7:49pm
prh99The most popular games on Steam for 2014 http://bit.ly/1zLE0r403/04/2015 - 7:47pm
Papa MidnightWow, EZK. Oh my goodness, that timeline is huge.03/04/2015 - 6:59pm
E. Zachary KnightIt's the Super Mario timeline. https://dl.dropboxusercontent.com/u/386496/smbTimeline_huge.png03/04/2015 - 6:49pm
prh99There are the various URL shortening services.03/04/2015 - 6:45pm
WymorenceIronic that they're releasing a game about cops and robbers in essence while they don the "extortionist" mask...03/04/2015 - 6:38pm
james_fudgeI'm not a miracle worker :)03/04/2015 - 6:09pm
Craig R.That link is still awful due to the fact that the entire article title is part of the URL :P03/04/2015 - 6:00pm
MonteI'm really waiting to see more publishers get serious backlash for those horrible DLC practices03/04/2015 - 5:48pm
MonteBattlefield with prioty servers for those that pay... sounds like EA wasn't a big supporter of Net Neautrality03/04/2015 - 5:47pm
PHX Corp@james_fudge thanks03/04/2015 - 5:28pm
james_fudgePHX Corp. I shortened your link for you03/04/2015 - 5:18pm
Andrew EisenAgain, folks, please oh pretty please remove all that extraneous crap from the ass end of any links you wish to share. Everything from the "?" and on can be removed.03/04/2015 - 4:31pm
PHX Corphttp://www.destructoid.com/prepare-to-pay-full-price-twice-to-unlock-all-of-battlefield-hardline-s-exclusive-features-288492.phtml Prepare to pay full price twice to unlock all of Battlefield Hardline's exclusive features03/04/2015 - 4:26pm
Andrew EisenNew Age of Ultron trailer but someone hit the Image Stabilizer button and the damn thing jumps around so much I refuse to watch it until it's fixed. https://www.youtube.com/watch?v=JAUoeqvedMo03/04/2015 - 4:10pm
 

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