38 Studios game fails to sell

Updated: December 13, 2013, 1:09 PM ET
Associated Press

PROVIDENCE, R.I. -- The flagship game under development by Curt Schilling's defunct video game company hasn't been sold, because no acceptable offers were made at auction. Only two pieces of intellectual property sold for $320,000.

38 Studios receiver Richard Land said Friday he will continue negotiating with interested parties to sell that game and other remaining assets. Five parties participated in Wednesday's auction by Global Heritage Partners. Over 20 expressed interest.

The company was developing a "massively multiplayer" game in Providence with the help of a $75 million loan guarantee from Rhode Island's economic development agency.

With the company's bankruptcy, the state is responsible for some $90 million related to the deal. The state Economic Development Corp. is suing Schilling, an ESPN baseball analyst and former major league pitcher, and others, saying they deceived the board into backing the loan.


Copyright 2013 by The Associated Press

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