While Rhode Island state loans and Schilling's personal wealth paid for the lion's share of costs, Electronic Arts also provided an advance of $28.6 million for the development of Reckoning. Unfortunately, in order to repay the maligned publisher, sales would likely have needed to surpass 2 million.
Though famed Wedbush Securities analyst Michael Pachter didn't think that number was unreasonable, believing it could sell between 2 and 3 million, the disparity between expectations and reality compounded by the $104.5 million spent on research and development for Project Copernicus sent the company into a tailspin.
A continued relationship with EA cooled after Star Wars: The Old Republic received a lukewarm reception, souring the publisher on the idea of further investment in massively multiplayer titles. Attempts were made to partner with Take-Two on a Reckoning sequel, but ultimately talks fell through. Saul Kaplan, former executive director of the Rhode Island Economic Development Corporation, believes another $60 million would have been necessary to complete development of 38's ethereal MMO.
38 Studios' spending topped $133, documents reveal [WPRI via GameSpot]
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