A Nail For Nails, Dykstra Files Chapter 11

by Deidre Woollard (RSS feed)
Jul 8th 2009 at 10:00PM

The slow decline of Lenny Dykstra, the baseball player turned investor turned magazine publisher has taken a new turn as he filed for bankruptcy protection today. What's astounding is the depth of his debt: he has listed less than $50,000 in assets with debts totaling between $10 million and $50 million. Just a few months ago he told ESPN.com that he was worth $60 million and more recently took TMZ to task when they reported on the repossession of his Rolls.

The petition shows he owes JPMorgan Chase & Co. $12.9 million and Bank of America Corp.'s Countrywide and credit-card units $4.2 million. Other debts include nearly $1 million to jet charter services as well as hundreds of thousands to his lawyer and literary agent. The filing comes the day before a planned auction of the home in Lake Sherwood which Dykstra bought from Wayne Gretsky for $18.5 million.

Gallery: Lenny Dykstra in Thousand Oaks