Major League Baseball career (1943-1948)
Schultz began his professional career in baseball with the minor league Grand Forks Chiefs in 1941 and 1942. Schultz then was promoted to the St. Paul Saints in 1942, where he was noticed by Branch Rickey general manager of the Brooklyn Dodgers. In 1943, Brooklyn called up Schultz from St. Paul.
From 1943 to 1948, Schultz, played Major League Baseball as a member of the Brooklyn Dodgers (1943-1947), Philadelphia Phillies (1947-1948), and Cincinnati Reds (1948). He primarily played as a first baseman and was traded by Brooklyn to make room for Jackie Robinson.
Schultz had a career batting average of .241 with 24 home runs and 208 RBI in 470 career MLB games.
NBA basketball career (1948-1952)
In the baseball off-season, Schultz played professional basketball. Schultz first played for the Anderson Packers of the NBL in 1946. When the Packers moved to the NBA in 1949-1950, Schultz served as their player-coach (21-14), before being traded to the Fort Wayne Pistons during the season.
Schultz later played two seasons with Minneapolis Lakers, winning an NBA championship in 1952, alongside teammates George Mikan, Jim Pollard, Vern Mikkelsen and Slater Martin. In the championship against the New York Knicks, Schultz reportedly threw a punch at 6’3″ Knick player Ernie Vandeweghe in game 4 of the NBA Championship series. Schultz was ejected after receiving a Technical Foul and received a 50 dollar fine.
Schultz averaged 9.7 points per game in the NBL, and 5.3 in the NBA.