Ex-Red Sox pitcher Schilling agrees to 38 Studios settlement

Markets Associated Press

Former Red Sox pitcher Curt Schilling and others have agreed to pay $2.5 million to settle their part of a lawsuit brought over Rhode Island's disastrous $75 million deal with 38 Studios, Schilling's failed video game company.

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The settlement agreement with Schilling and other 38 Studios officials was announced Monday by the Rhode Island Commerce Corp.

Retired Superior Court Judge Francis Darigan had been acting as mediator in the case and is scheduled to hold a news conference Monday morning to discuss the deal.

The settlement must still be approved by a judge. If approved, it would bring the amount of settlements in the case to approximately $45 million.

The only remaining defendant would be First Southwest, which acted as Rhode Island's financial adviser in the deal.