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The Insanity of Lenny Dykstra

Lenny Dykstra, as you may know, has been in the news lately because he's been fancying himself a financial guru, who is seeking to work with athletes to help them manage and protect their money.

ESPN has a story out that makes him sound more like Bernie Madoff, only crazier.

It is very long and worth reading, chock full of some absolutely amazing quotes and anecdotes.  Some highlights:

The scrappy old center fielder, remembered as "Nails" by adoring Mets and Phillies fans, is chasing money, lots of it -- "cheddar," as it's called in his SoCal lingo. Without being asked, the self-styled investment master -- who, at this moment, is up to his thick neck in lawsuits -- volunteers that he's worth $60 million.

I hate people who refer to money as "cheddar."

On an investment Web site co-founded by Cramer, subscribers drop $999.95 a year to get Dykstra's options picks.

"People invested with me made 250-large last year. That's $250,000," Dykstra says, which if true should earn him a front-row seat in the Obama cabinet.

I'm glad Dykstra explained what 250-large meant. 

The smack has just begun.

Just ask about The Players Club, the year-old magazine started by Dykstra and geared to wealthy athletes. He ships 20,000 copies of each monthly issue free-of-charge to clubhouses and locker rooms, to agents and league offices. Along with stories profiling marquee athletes, its pages are filled with promotional displays for luxury rides, palatial digs ("trophy homes") and financial advice from Dykstra himself. In his grand scheme, Dykstra says, his parent company -- The Players Club Operations, LLC -- is about creating a lifestyle, making available to athletes a TPC credit card, a concierge service, a charter jet service and access to an annuity program to insure a recurring cash flow in retirement.

"It's about living the dream, bro," he says.

And after thumbing through a series of lawsuits that stretches from coast to coast and chatting up his business associates, you wonder if this aspiring financial Pied Piper is, indeed, living in a fantasyland. You wonder if the dream, built on glitz and greed in a time of economic uncertainty, is a teetering house of cards. You wonder if anyone this side of Bernie Madoff has ticked off more people -- business partners and family, alike -- than Lenny K. Dykstra.

The lawsuits suggest that one of two things is going on here: Either Lenny hates to pay his bills, or he's a financial train wreck.

This is the story in a nutshell.  But the gory details are fascinating...

One of the angry souls is Dr. Festus Dada, a Nigerian-born gastric bypass specialist, who filed a fraud/breach of contract suit and alleges Dykstra kept a $500,000 deposit after a deal fell apart to purchase a Southern California car wash and retail center then owned by Dykstra. Dada walked away from the transaction, claiming in the suit that Dykstra had made significant changes to the final escrow agreement, including the insertion of a five-year contract for Dykstra's old Phillies teammate, Pete Incaviglia, to serve as general manager under the new ownership.

* * *

"He thought he could keep my $500,000 and nobody would have the resources to go after him," Dada says. "But in this case, I am going after him. General surgeons are not intimidated by professional athletes.

"Like I told him, if I can cut somebody from the neck all the way down to the pubis with a scalpel, then I cannot be intimidated."

I love that last line.  I wish I were a surgeon so I could use that line.

The high-powered global law firm K&L Gates, which waged many of the legal skirmishes on Dykstra's behalf, withdrew its representation late last year because it was "not paid current," according to his former lead counsel, David Schack. To which Dykstra says, "Four million I paid him. What do you mean, isn't that a lot to you?"

Objection, non-responsive.

The family rift runs so deep that until recently, Dykstra had spoken to his mother only once in the past three years, according to his brothers, and wasn't allowing her any contact with his sons, her grand children.

Last month, though, on March 23, Dykstra picked up the phone and woke up his mother with a call at around 6 in the morning, according to Kevin Dykstra, his younger brother. Lenny was stranded in Cleveland. He wanted to charter a jet so he could get to a business meeting on the West Coast, and his credit cards were maxed out. He needed nearly $23,000 and asked his mother for it, Kevin says.

His mother agreed to let him use her credit card.

Kevin Dykstra says she has yet to be repaid.

* * *

About the use of his mother's credit card, Dykstra says, "Listen to me, the millions of dollars I've spent on them -- I mean, I don't know what you're talking about. That is why I can't talk to you no more."

And it gets better.

"No, dude, the f---ers want more money," Dykstra says about the lawsuits and the debts. "Dykstra has all the money."

Dykstra has all the money.  Third person referencing insanity as well.

When race car driver Danica Patrick appears on a TV commercial, he pipes up, "I made her, man. Put her on the cover [of The Players Club] and made her."

Don't like Danica Patrick?  Blame Dykstra.

Seriously...all this is just in the first third of the article.  It is amazing.  Read the whole thing.

 

 

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I read this yesterday..

what a disaster. I think his story is going to end tragically.

by Houston27 on Apr 23, 2009 10:03 AM CDT reply actions  

I read this article this morning. The depth of his insanity is enthralling.

He was one my favorite non-Rangers growing up. I loved that Phillies team with him and Kruk and Daulton.

What a delusional lunatic he’s become.

I don’t whether to pity him, or just to hate him.

The 40 Trumps All!!!

"I guess it’s tough to look good when you play on the same team as Marcus Lemon." -Trip Somers.
"Congratulations, Mr. Somers. You just made THE LIST." -The Newberg, after reading the above comment.

by thedirkatron on Apr 23, 2009 10:04 AM CDT reply actions  

Daulton is a different kind of crazy too.

Could you imagine a conversation with those 2?

I'm Ron Burgundy?

by Ryin A on Apr 23, 2009 10:29 AM CDT up reply actions  

"Like I told him, if I can cut somebody from the neck all the way down to the pubis with a scalpel, then I cannot be intimidated."
I love that last line. I wish I were a surgeon so I could use that line.

Why the need to be a surgeon..? Use it anyway just to freak people out.

Grieve: The Yanks have struggled so far. - Lewin: Yeah, cry me a bag of money.
ElectricOkra.com

by WhipSmart on Apr 23, 2009 10:05 AM CDT reply actions  

If I ever get sent to prison I'm getting that line tattooed across my chest before I go in.

The 40 Trumps All!!!

"I guess it’s tough to look good when you play on the same team as Marcus Lemon." -Trip Somers.
"Congratulations, Mr. Somers. You just made THE LIST." -The Newberg, after reading the above comment.

by thedirkatron on Apr 23, 2009 10:07 AM CDT up reply actions  

hilarious

Only had to reach halfway to know I’d rec this…

"[Font} doesn't turn 19 until the end of May and his heater can already hit 99 on the gun. That's baseball porn." - Jason Parks

by hightowersmith on Apr 23, 2009 10:23 AM CDT up reply actions  

noted.

"Hang-Dai, Wu...Hang-Fu$&ing-Dai"

by Walter Sobchak on Apr 23, 2009 10:29 AM CDT up reply actions  

Oh, and I too loved that surgeon's comeback.

I nearly spit out my coffee when I read that.

Hilarious shit.

The 40 Trumps All!!!

"I guess it’s tough to look good when you play on the same team as Marcus Lemon." -Trip Somers.
"Congratulations, Mr. Somers. You just made THE LIST." -The Newberg, after reading the above comment.

by thedirkatron on Apr 23, 2009 10:06 AM CDT reply actions  

exactly.

epic

Scout: He was a first-round pick right? Got a huge bonus?
KG: Oh yeah.
Scout: Well, he spent a lot of it on milkshakes.

by knockoutking on Apr 23, 2009 10:44 AM CDT up reply actions  

How does the Jones-Hicks photo

fit in here?

G G G E-flat_______ F F F D__________....

by t ball on Apr 23, 2009 10:09 AM CDT reply actions  

the caption doesn't explain it either

I think AJM was kidnapped before he could finish it

"He will not coddle them. Nolan Ryan doesn’t coddle." - Jeff Passan

by Dirk Diggler on Apr 23, 2009 10:11 AM CDT up reply actions  

Whats funny

with this story and the other story posted about a month ago by one of Lenny’s previous photo editor’s is the number of times he has to use other folks credit cards to pay for fuel.

What’s even funnier is the number of times folks fall for that crap. Honestly, if the corp isn’t credit worthy enough to pay for fuel, why would you think you’d get repaid?

"The idea that the Rangers are going to be a solid contender for a number of years is a fantasy." - Adam J. Morris

by DJCahill on Apr 23, 2009 10:12 AM CDT reply actions  

no joke, you don't give your personal credit number to anyone

especially one that is a complete bafoon

The "Fire Wash Watch" is on. I say he's gone by April 26th.

by NothinG on Apr 23, 2009 10:13 AM CDT up reply actions  

Car Wash General Manager

living the dream…

Grieve: The Yanks have struggled so far. - Lewin: Yeah, cry me a bag of money.
Dykstra has all the money!
ElectricOkra.com

by WhipSmart on Apr 23, 2009 10:17 AM CDT up reply actions  

nah

he’s managing the grand prairie air hogs

by bushe on Apr 23, 2009 10:36 AM CDT up reply actions  

wow

just looked that up. I had no idea. Cats opening day just got a little more interesting…

Grieve: The Yanks have struggled so far. - Lewin: Yeah, cry me a bag of money.
Dykstra has all the money!
ElectricOkra.com

by WhipSmart on Apr 23, 2009 11:02 AM CDT up reply actions  

Annie Lennox?

Is that you?

Grieve: The Yanks have struggled so far. - Lewin: Yeah, cry me a bag of money.
Dykstra has all the money!
ElectricOkra.com

by WhipSmart on Apr 23, 2009 1:36 PM CDT up reply actions  

Here's another story, by a guy who worked for Lenny

http://men.style.com/gq/features/landing?id=content_8558

"The idea that the Rangers are going to be a solid contender for a number of years is a fantasy." - Adam J. Morris

by DJCahill on Apr 23, 2009 10:19 AM CDT reply actions  

the thing that strikes a nerve

I think most everybody in the business world knows people with the same characteristics. Granted Dykstra takes things to completely new levels compared to the generic chest thumper Chris Chris types that you generally run across.

My question is how do these people always seems to do as well as they do? It doesn’t seem to require a great deal of perception to see through these charades, but in my experience, this personality profile always seems to do pretty well, and make good money. Usually better than me. And when the inevitable fall comes, seems like there is another investor or employer that scoops these guys up, often with a better deal than the last one.

If you take the worst pitching staff in baseball, then add Kris Benson and Jason Jennings, what do you have???

surprise!!! You have the worst pitching staff in baseball, that's what.

by tricer on Apr 23, 2009 10:28 AM CDT reply actions  

they have no shame

if you have no shame, you widen the net. if you widen the net, and can get people excited about SOMETHING…hey, maybe it was even, “I’m Lenny F-ing Dykstra – c’mon!” – well, there are suckers in this world. some with lots of money. others with aspirations to make lots of money. and really, if you can’t trust Len Dykstra, who can you trust?

"Hang-Dai, Wu...Hang-Fu$&ing-Dai"

by Walter Sobchak on Apr 23, 2009 10:32 AM CDT up reply actions  

wow, Pete Incaviglia...

so sad to see him tied up in all of this

"Hang-Dai, Wu...Hang-Fu$&ing-Dai"

by Walter Sobchak on Apr 23, 2009 10:33 AM CDT reply actions  

heh
As others have pointed out, we don’t know the size of the portfolio, which prevents anyone from making an informed judgment on Lenny’s performance. Saying you’re 99-1 is meaningless when 1) the one loser comes close to wiping out the 99 wins, and 2) the losses on open positions outweigh the gains on closed positions.

This is very entertaining. I hope to follow where it may lead.

I'm all Washed out.

by inactive lsb user on Apr 23, 2009 10:59 AM CDT up reply actions  

I hate Dykstra

The "Fire Wash Watch" is on. I say he's gone by April 26th.

by NothinG on Apr 23, 2009 10:41 AM CDT reply actions  

“He thought he could keep my $500,000 and nobody would have the resources to go after him,” Dada says. "But in this case, I am going after him. General surgeons are not intimidated by professional athletes.

“Like I told him, if I can cut somebody from the neck all the way down to the pubis with a scalpel, then I cannot be intimidated.”

this is one of the better quotes i have read in a long time.

Scout: He was a first-round pick right? Got a huge bonus?
KG: Oh yeah.
Scout: Well, he spent a lot of it on milkshakes.

by knockoutking on Apr 23, 2009 10:45 AM CDT reply actions  

Dykstra

Must have gotten his financial education from watching the Godfather series, instead of economic texts.

"He uses statistics as a drunken man uses lamp-posts... for support rather than illumination." - Andrew Lang (1844-1912) also -

"Telephone, n. An invention of the devil which abrogates some of the advantages of making a disagreeable person keep his distance."
~Ambrose Bierce

by Ed Coffin on Apr 23, 2009 11:08 AM CDT reply actions  

other quotes
His business plan is another story. He talks plenty about that during the early interviews for this story. Asked if the ambitious design to provide a handful of specialty services for pro athletes is in place, Dykstra says confidently, “Have I got a 12-inch c—-, or what? Of course, it is all in place. It might not look like it, but everything I do is part of a plan.”
“He was always spinning something really obscure,” Jurewicz says. "And you know how Lenny talks. ‘Hey, bro, got this deal, man. I got to get you into a bird, man.’ And you’re like, ‘Listen, chief, I want a check.
“I told him, ‘When the [Gretzky] house sells, you’ll get your money,’” Dykstra says. “But I said, ‘You got to build out the Web site,’ ‘cause no one in their right mind would pay $1 million. You might go to jail for that. That’s like Jesse James. I mean, $1 million? A Web site?”

This is the same Lenny Dykstra who, in hyping his grand design last year, told The New Yorker, “To do a decent Web site, you need two million dollars.”

im sorry but to spend 1 million on a website is flat out dumb. offer a 100k prize to college students, let them come up w/ the design then let them design the site/hire them. costs a hell of a lot less than 1 mil

“He gave me a name, but I don’t remember it right off the top,” Lee (his driver) says. "He said, ‘Get in touch with this guy.’ I think one time he wrote down a number, but I didn’t take it. I was, ‘Wow, is this really happening?’ He was dead serious. You know a person is serious when they mention it four times. He said, ’They’ll chop it up, break it down into pieces and they’ll send it overseas. And they’ll reassemble it overseas.’
“I don’t want to be associated with anything that he is doing right now,” says Suttmeier, chief market strategist for ValuEngine.com and an occasional guest on financial TV shows. “When he doesn’t pay my son the six grand that he owes, I give up on him. It’s simple. I don’t do lawsuits or anything like that, but I don’t want to be tied to him in any way moving forward. It doesn’t make sense to me.”
“Lenny says everybody steals from him,” says Kevin (his brother), a former minor league umpire. “And the truth is Lenny is the actual fraud, because Lenny doesn’t like paying people he owes money to. When I called for my money, he says, ‘I don’t owe you anything. I never promised you anything. All you do is steal from me.’”

what a sad story

Scout: He was a first-round pick right? Got a huge bonus?
KG: Oh yeah.
Scout: Well, he spent a lot of it on milkshakes.

by knockoutking on Apr 23, 2009 11:21 AM CDT reply actions  

it reads like an article from the Onion

unbelievable…

Grieve: The Yanks have struggled so far. - Lewin: Yeah, cry me a bag of money.
Dykstra has all the money!
ElectricOkra.com

by WhipSmart on Apr 23, 2009 11:27 AM CDT up reply actions  

yuuup

Scout: He was a first-round pick right? Got a huge bonus?
KG: Oh yeah.
Scout: Well, he spent a lot of it on milkshakes.

by knockoutking on Apr 23, 2009 11:42 AM CDT up reply actions  

Objection - non responsive

Finally, all those years of practicing law have paid off, Adam!

You should MST more articles. You could become the new FJM.

The Poster Formally Known As: UrbanDad
"Listen to Ted. Trust him. If he cuts you off, switch gears and go with it." -- Shroomer

by Ted Price on Apr 23, 2009 11:26 AM CDT reply actions  

Some other good OT reading...

On Wang Zhi Zhi: http://sports.espn.go.com/espnmag/story?section=magazine&id=3643579

Adenhart’s last moments: http://sports.espn.go.com/mlb/news/story?id=4075761

"[Font} doesn't turn 19 until the end of May and his heater can already hit 99 on the gun. That's baseball porn." - Jason Parks

by hightowersmith on Apr 23, 2009 12:38 PM CDT reply actions  

Man that Adenhart article is tough to read

I had no idea he went to ASU (my school). Such an awful story.

"He will not coddle them. Nolan Ryan doesn’t coddle." - Jeff Passan

by Dirk Diggler on Apr 23, 2009 2:21 PM CDT up reply actions  

This might be my favorite part:
About the use of his mother’s credit card, Dykstra says, “Listen to me, the millions of dollars I’ve spent on them — I mean, I don’t know what you’re talking about. That is why I can’t talk to you no more.”

Also: where he claims Danica Patrick is famous only because he put her on the front of his obscure magazine.

by philkid3 on Apr 23, 2009 2:26 PM CDT reply actions  

I have no friggin' idea why Danica Patrick IS famous...

but Players’ Club mag ain’t one of them.

The Texas Rangers have been synonymous with explosive firepower ever since they emptied 130 rounds into Bonnie Parker and Clyde Barrow in 1934. - Alyssa Milano

by bking on Apr 23, 2009 2:54 PM CDT up reply actions  

The weird part...

is that it’s not that bad of an idea. Young men with larger than average incomes, which income could end with a frayed ligament? They probably need financial counseling. Obviously, Dykstra isn’t the one to give it to them, though.

"I know you're a bit dense but no, it doesn't. Obviously lying isn't a problem for me."

by benmor78 on Apr 23, 2009 3:13 PM CDT reply actions  

He is teaching them

how to beg for gas money when they’ve blown their bonus money.

G G G E-flat_______ F F F D__________....

by t ball on Apr 23, 2009 3:57 PM CDT up reply actions  

don't you mean

He’s teaching them how to beg for gas cheddar when they’ve blown their bonus money.

If you take the worst pitching staff in baseball, then add Kris Benson and Jason Jennings, what do you have???

surprise!!! You have the worst pitching staff in baseball, that's what.

by tricer on Apr 23, 2009 4:14 PM CDT up reply actions  

Yet Dykstra

is probably not worse than 20% or so of the industry.

"The idea that the Rangers are going to be a solid contender for a number of years is a fantasy." - Adam J. Morris

by DJCahill on Apr 23, 2009 4:43 PM CDT up reply actions  

If any of you have never read Moneyball. . .

Young Lenny Dykstra figures pretty heavily in the book, and the description is right on par with what’s come out in the last year or so in relation to his business. He was Beane’s roommate when they were in the minors, and it’s the same sort of thing: really intense and kind of stupid and oblivious. I can’t remember all the passages about him, but a lot of it was about how he was successful largely just by being too stupid to no better and to intensively, single-mindedly persistent to quit. There’s a nice passage where he comes off as sort of offended/intimidated by Beane READING a BOOK, and tells him that shit will ruin your eyesite.

by philkid3 on Apr 23, 2009 5:25 PM CDT reply actions  

Oh, and he also seems like a douche in the book, too.

I actually didn’t read Moneyball until last summer, and I had already seen the HBO interview, so I was amused at how similar this character in the book was to the dude I thought was going to leap out of his chair and cut Bernard Goldman for not being serious enough.

by philkid3 on Apr 23, 2009 5:26 PM CDT up reply actions  

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