The Story Of Curt Schilling: Get Lost Hist Entire MLB Salary For Video Games
Curt Schilling is a professional baseball athlete who formerly joined the Boston Red Sox in winning the 2004 MLB world championship. He is one of the legendary baseball players who went bankrupt in 2012. In 1992 his name was signed for the Philadelphia Phillies. Curt decided to retire from the sport in 2009, by which time he had more than $90 in earnings and bonuses, not including sponsorship fees. So this is a Story of Curt Schilling.
Because he got a success story from being a baseball athlete, hopefully, he also hopes to get the same success in the business world. Finally, he created a company named 38 Studios. The company was created to compete with World Of Warcraft. Certainly Curt is a person who likes to play games, but he does not know how to run a business.
Finally, for six years standing. 38 Studios is only able to make one game, namely Kingdoms Of Amalur. The only game made by 38 Studios only sold 1.2 million copies worldwide.
The Cause of Curt Schilling’s Bankruptcy
Achieving success in the world of Baseball, certainly, Curt also hopes that he will achieve success in the business world. Therefore he decided to create a company 38 Studios. But unfortunately, the company had to go bankrupt because of the production and game development costs that were not covered by the sale of the video games sold.
There are also claims for breach of loan agreements of up to $75 million. At the time the company was created, it had $22 million in assets but $151 in debt. As a result, Curt had to lose about $50 million of the money he had. He also had to give up auctioning his various memorabilia including selling bloody socks which are now a very famous legend.
Curt is a legendary baseball player who can enjoy success in his career. However, Curt is plunged into a world of investment problems that he can’t solve. Due to his lack of business skills, he had to lose many valuable assets in his life.
Although 38 Studios had success with the release of the first game, employees stopped getting paid in May 2012. Sometime later, each employee was notified by email that they had been flamed because 38 Studios went bankrupt.
Curt may not have made the slightest profit from his 38 Studios business, but he has lost everything he has gained from his long career with MLB. All of his fortunes were lost to just one video game.
Curt is one case for those of us who want to study business, where we have to read, research, and also deepen knowledge related to the industry we want to live in. The sadness and misery after going bankrupt continued because he didn’t have a backup plan when 38 Studios didn’t go as planned.
For those of you who want to enter the business world, don’t forget to do an analysis, read a lot, and also don’t be tempted by the uncertain investment world. Don’t let Curt’s story repeat and happen to you so that you confess it later. Hopefully, this story of Curt Schilling can inspire and motivate you.