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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How do you feel about Amazon buying Twitch?:

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ConsterI don't get why Amazon decided to buy this "Twitch" fellow, really. It took him ages to beat Pokemon.08/29/2014 - 8:31am
ZippyDSMleeIt goes without saying that we need to et rid of the bullies on both sides that are far worse than Sarkeesian or Quin will ever be.08/29/2014 - 8:24am
ZippyDSMleeI'm talking more about the genreal movement and how silly it is, as for Sarkeesian half of what she is says rings hollw while the other half tend to be over exsagerated.08/29/2014 - 8:22am
Avalongod@Papa, agreed. I think people are reluctant to get involved if they're not the target. But I think we need to take responsibility as a community to confront harassing behavior, whether on gender or race.08/29/2014 - 7:23am
E. Zachary KnightSo Nintendo has given gamers what they want and have fractured the 3DS user base at the same time. http://www.gamasutra.com/view/news/224476/Nintendo_reveals_the_New_Nintendo_3DS.php08/29/2014 - 7:12am
Papa MidnightI could say the same about race. I certainly enjoyed being on the receiving end of this while playing StarCraft II this past week: http://i.imgur.com/mIZA1QB.png (and this is actually mild compared to what I usually see). Report players? What a joke...08/29/2014 - 12:29am
AvalongodWhether you approve of Sarkeesian's view or not, no woman deserves to be the target of that kind of harassment and it won't stop until men tell each other it's not appropriate under any circumstance.08/28/2014 - 8:44pm
AvalongodI'm guessing the twitter account was a troll, but come on, I'm sorry, it's just disgusting someone is saying those things to Sarkeesian whether serious or a joke.08/28/2014 - 8:43pm
ZippyDSMleesocial movement that is bringing most of these issue to the spot light to be nothing but trend mongering white knighting bullies who are not much better than the hateful moronic bullies on the other side.08/28/2014 - 5:20pm
ZippyDSMleereflects the world we live in while the rest is the worst stuff that should be focused on. Leaving whats reflected in the same boat as everything else that's exaggerated and skewed by media/fiction and happliy consumed by current society. I find the socia08/28/2014 - 5:20pm
ZippyDSMleemales live off the power fantasy but once you realize as a male you will never reach what fiction or media calls perfect it demoralizes you just the same. And I would not call female negative stereotypes rampant and out of control not when 70-80% of it re08/28/2014 - 5:19pm
ZippyDSMleeNot saying that there is not a difference in the treatment of males and females in media, but males are begin painted as near perfect superhumans with cliched flaws it dose as much damage to the psyche as how females are treated. Sure you could claim that08/28/2014 - 5:19pm
ZippyDSMleeNeeneko:As I said if you do not 100% belive it then you are a Neanderthal. Theres more gray to everything than black and white.08/28/2014 - 1:27pm
NeenekoMeh, the "PCism" is just trotted out when people do not know their place and dare to complain about things the speakers think are fine. How dare people complain about how they are treated/portrayed, it is not like it bother us, our feelings matter!08/28/2014 - 1:13pm
ZippyDSMleeNeeneko I do not think its against feminism but rather against PCisim’s and that most things are offensive since if you do not believe that you are a Neanderthal that beats women,ect..08/28/2014 - 12:48pm
Neenekocomplete with the standard 'she is a lying and attacking the game industry! threats are wrong but she did it to herself' comments.08/28/2014 - 11:28am
Neenekosad, but not surprising. the backlash against feminism has been growing the last few years.08/28/2014 - 11:25am
PHX Corphttp://www.rawstory.com/rs/2014/08/27/feminist-video-game-critic-forced-to-leave-her-home-after-online-rape-and-death-threats/ Feminist video game critic forced to leave her home after online rape and death threats08/28/2014 - 9:43am
Uncharted NEShttp://kotaku.com/once-again-atlus-doesnt-want-you-to-spoil-the-new-pers-162782610808/28/2014 - 5:17am
Uncharted NESOnce Again, Atlus Doesn't Want You to Spoil the New Persona08/28/2014 - 5:16am
 

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