PROVIDENCE, R.I. (AP) — A judge has approved a settlement with former Red Sox pitcher Curt Schilling over a $75 million deal with Rhode Island state that brought his failed video game company to the state.
A court spokesman says Superior Court Judge Michael Silverstein approved the $2.5 million settlement Friday.
Schilling and three other 38 Studios officials agreed to the settlement with Rhode Island’s economic development agency earlier this week. It will be paid by the company’s insurance.
Schilling agreed to move 38 Studios to Rhode Island in 2010 in exchange for a state loan guarantee. His company failed less than two years later.
- Complete Coverage: 38 Studios »
The state has now recovered around $45 million. Just one company remains as a defendant, First Southwest, which acted as the state’s financial adviser in the deal.