08/09/2009 05:12 am ET Updated May 25, 2011

Lenny Dystrka Bankruptcy: Fueled By Failed Magazine Launch

Many of Dykstra's financial woes stem from the failed launch of the Player's Club, a monthly magazine for professional athletes he published in partnership with Doubledown Media--a publisher of magazines aimed at the Wall Street elite--which went out of business earlier this year. Before the title launched, Dykstra sued Doubledown claiming breach of contract. Doubledown filed a counterclaim alleging Dykstra owed the publisher more than a half million dollars.

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