Emails: Private funds eyed for Schilling's RI firm
PROVIDENCE, R.I. (AP) - Emails show a Rhode Island economic development official discussed private financing for Curt Schilling's now-defunct video game company a day after the state's $75 million loan guarantee was approved for it.
Emails under review by a state legislative panel show that Michael Saul, a former top official at the state's Economic Development Corp., wrote to a Bank of America executive about possible funding for Schilling's company, 38 Studios. In an email from July 2010, Saul writes that another bank was considering $25 million in financing for 38 Studios.
The former Red Sox pitcher's company filed for bankruptcy last year, making the state responsible for some $90 million in outstanding debt.
State lawmakers met Wednesday to review documents from the development agency about the process that led to the state's investment.