by Nate Wooley | October 4, 2012 8:25 am
Former MLB pitcher Curt Schilling has debts to pay, and it might cost him dearly.
The player, most famous for overcoming injury during his World Series performances, is in debt millions of dollars for a failed computer game company he founded called 38 Studios.
Schilling has filed documents with the court pledging parts of his baseball memorabilia collection as collateral to lenders, the Boston Globe reports. Among the items put up are the bloody sock he wore during his 2004 World Series Game 2 victory and a baseball cap worn by Yankees hall-of-famer first baseman Lou Gehrig.
The sock is on loan to the National Baseball Hall of Fame in Cooperstown, N.Y. Experts estimate the sock could bring as much as $25,000 at auction.
Schilling’s game company filed for bankruptcy last June, citing more than $150 million in debts. Schilling holds a personal guarantee on some of the debt, including at least $11 million between two banks.
Schilling also has pledged other, non-baseball-related items such as his home, part of his private equity firm, and his extensive collection of WWII items.
More from the world of sports and memorabilia:
Source URL: http://investorplace.com/2012/10/former-red-sox-star-may-be-forced-to-sell-bloody-sock/
Short URL: http://invstplc.com/1aLFdci
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.