July 9, 2009

Lenny Dykstra Bankruptcy



You might read this story and laugh at Lenny Dykstra, but this can happen to anybody, doesn't mean he's not smart or not a good businessman!

Lenny Dykstra Bankruptcy
source

Lenny Dykstra, the former star center fielder for the New York Mets and Philadelphia Phillies Major League Baseball teams, has filed for Chapter 11 bankruptcy protection, court records show.

The 46-year-old has no more than $50,000 of assets and between $10 million and $50 million of liabilities, according to a petition filed Tuesday with the U.S. Bankruptcy Court in the Central District of California.

Jonathan Hayes, one of Dykstra's lawyers, had no immediate comment.

Dykstra's filing comes in the wake of some 20 lawsuits he faces tied to his activities as a financial entrepreneur, including The Players Club, a glossy magazine he had helped launch, according to published reports.

Let's go Mets debt.

Lenny Dykstra Bankruptcy

Posted at July 9, 2009 6:24 AM
Comments

What do you expect? Don't spend more money than you make. he was also GREEDY.

Posted by: Phil at July 9, 2009 9:19 AM

Serves him right as these athletes think they are beyond having to acount for themselves. They spend like it will never end and when it does they are (Devistated) give me a break they are little boys who never grew up, but get to play games and get paid millions to do so. They do not know what it is to be broke. Ha,ask me, I worked 55 years and everything I had is gone due to the depression. But I am not filing for bankruptcy. I took my licks and I keep on ticking.

Posted by: Doc Savage at July 9, 2009 9:47 AM

This is a great example of making a One hunderd and spending a hundred & one. Eventually it all catches up to you. Arrogance and greed, serves him well.

Posted by: Ian Chung at July 9, 2009 10:24 AM

You guys are ignorant. The man reinvested his money in stock and mutual funds, owned several well operated and once profitable car washes. Much like many people recently his investments just recently tanked. It's not like he spent all of his money on just toys.

Posted by: Nails at July 9, 2009 6:28 PM

Obviously his businesses were not well operated or profitable. $31mil in debt? Dumb and greedy more likely. Lots of car washes around my neighborhood still goin strong. A glossy magazine??... Please! Any idiot knows that is not a good risk. Massive spending + Not enough income= bankruptcy.

Posted by: Boo at July 9, 2009 7:18 PM

Obviously his businesses were not well operated or profitable. $31mil in debt? Dumb and greedy more likely. Lots of car washes around my neighborhood still goin strong. A glossy magazine??... Please! Any idiot knows that is not a good risk. Massive spending + Not enough income= bankruptcy.

Posted by: Boo at July 9, 2009 7:19 PM

Who were the idiots that gave him all those millions; they should be fired, but they will probably get raises. It must be his good looks that got him all that money. Some people need to be treated like children, and have some great lawyer handle their affairs; right?

Posted by: tjake13 at July 9, 2009 8:58 PM

It takes money to make money.
Evidently he didn't protect himself, and probably spent too much.
He put his neck on the line and got his head chopped off.
Thats the way the cookie crumbles.

Posted by: the man at July 11, 2009 6:06 PM

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