Former Boston Red Sox pitcher and the founder of the now-defunct 38 Studios, Curt Schilling, will be putting a bloodied sock he wore during the 2004 World Series up as collateral for debts accrued after he failed to repay the company's loans.
Back in October 2012, Schilling filed a document with the Massachusetts secretary of state's office listing a number of items as collateral for the millions of dollars in unpaid loans he guaranteed for his failed company. Among the items were the bloodied sock, a baseball cap that was worn by Lou Gehrig in or around 1927, a collection of World War 2 memorabilia and proceeds from his investment in a private equity firm.
Today AP reported that the stained sock will be auctioned off by Texas-based Heritage Auctions, with the sock expected to fetch at least $100,000.
38 Studios is best known for its work on Kingdoms of Amalur: Reckoning. The company relocated to Providence, R.I. from Massachusetts after the state of Rhode Island offered the studio a $75 million loan guarantee in 2010. The studio proceeded to overspend at a time when it wasn't generating revenue, causing the studio to file for bankruptcy in June 2012.
Online bidding will begin on Feb. 4, 2013 and live bidding will take place on Feb. 23 at the Fletcher-Sinclair mansion in New York City. The cap worn by Lou Gehrig will also be auctioned.