Lenny Dykstra, self-proclaimed financial guru, has filed for bankruptcy. He was once hailed by Jim Cramer as “one of the great ones,” and he wasn’t talking about Dykstra’s baseball career.
It’s all too much for Jon Stewart, who has a field day with this one.
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| Lenny Dykstra’s Financial Career | ||||
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Former New York Mets and Philadelphia Phillies’ baseball star Lenny Dykstra has filed for bankruptcy.
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.
The bankruptcy petition shows several banks among Dykstra’s largest unsecured creditors, including units of JPMorgan Chase & Co (JPM.N) and Bank of America Corp (BAC.N).
Known as “Nails” and “The Dude,” Dykstra played for 12 years with the Mets and the Phillies before retiring in 1996 with a lifetime .285 batting average and 81 home runs.
It’s amazing how sometimes these former athletes wind up with no money after years of making millions. It doesn’t make any sense, but then again, most of these guys aren’t getting sound financial advice from the get-go so maybe it shouldn’t be that surprising.
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