Just over a week after Lenny Dykstra filed bankruptcy and then gave a bizarre interview to CNBC saying that it was just a “reorganization” tactic to get his financial ducks in a row, word comes that he is, in fact, pretty much broke. This despite claims from his lawyer last week that his stated assets would turn out to be more than $50 million, when Chapter 11 paperwork indicated the answer was more like $50,000. The true hero in all of this? Mitch Williams, who predicted this back in January. But even Wild Thing thought it would take another two years or so.
The latest news comes from paperwork documenting the ongoing divorce proceedings between Dykstra and his soon-to-be-ex-wife, Terri. The latter is requesting $40,000 per month in child and spousal support, based on his “historical income.” But Dykstra has responded that his only source of income right now is his MLB pension — in the amount of $5,700 per month.
The VENTURA COUNTY STAR obtained the documents, which feature the latest bit of sound financial advice from Dykstra — telling his wife to get a job:
“The only source of income I have is my Major League Baseball pension in the amount of $5,700 per month,” he declared in the court documents. “My current finances are in extremely dire straits.”
The divorce lays bare how bad things have become for a man who just two years ago was touted by TheStreet.com as a financial whiz. He wrote an investment column, “Nails on the Numbers,” giving stock picks. Dykstra also launched a magazine to train professional athletes how to handle money.
Dykstra’s wife hasn’t had a job in more than 23 years, but he is asking the court to advise her to get one. She is, he states in the documents, “healthy and should start looking for work even if it’s on a part-time basis. We are financially broke at this time and she should make every effort to help support our son.”
The biggest irony in all of this is not that a guy who gained notoriety the last few years for his ability to make winning stock picks is broke. No, the winner of the Claret Jug of Irony is the fact that he started a company to help retired athletes manage their money, and then somehow blew a reported net worth of $58 million in less than a year, in part because the venture completely failed.
Although, since Dykstra doesn’t appear to be the most reasonable guy in the world, it wouldn’t be out of the realm of possibility for him to actually have more assets than he’s currently reporting just to try and stick it to his wife. He hasn’t exactly been treating her well during the proceedings:
The divorce does not appear to be amicable. Terri requested a restraining order after Dykstra sent her text and e-mail messages like this one from May 19: “PLAYING MR. NICE GUY IS OVER.” Terri said in her court filings that he also left her a voice mail in May stating: “From now on everything is going to be bad, the war is ready to begin and I play … dirty!”
Could the woe-is-me act be an example of “playing dirty” in order to get out of paying a hefty settlement? Or has “Nails” pulled a financial meltdown that even Mike Tyson thinks is ridiculous?