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Dykstra Files for Chapter 11
Says he has $50K in assets, owes $10-$15M
By Matt Cantor
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Posted Jul 9, 09 12:52 PM CDT
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(Newser)
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Former New York Met and Philadelphia Phillie Lenny Dykstra has filed for Chapter 11 bankruptcy protection in California yesterday, citing no more than $50,000 in assets and debts between $10 million and $50 million, the Philadelphia Inquirer reports. After making $36.5 million playing ball, Dykstra launched a magazine for pro athletes in 2008; employees said he didn’t pay his bills.
The bankruptcy filing says Dykstra owes cash to “credit-card companies, banks, lawyers, printing companies, and private aviation companies,” the Inquirer notes. “Sometimes the difficult decisions in life are the most necessary," he said. "In the end, the restructuring will definitely be a good thing.”