May 2nd 2008 5:55PM by Josh Alper
One of the least likely transformations in recent American sports has been Lenny Dykstra’s move from tobacco juice slathered, oddly proportioned, none-too-bright seeming center fielder into financial genius. As you’ll recall, Nails has become a commentator on TheStreet.com, pals with Jim Cramer and the creator of a magazine designed to help professional athletes become better managers of their money.
He’s pretty sure of the success of his publication, , so sure, in fact, that he took the stage at last night’s National Magazine Awards as a presenter and boasted about the rag’s future.
“It’s definitely major league,” he said. “Maybe not ’s idea of major league, but it’s major league.”
Then, presenting the award for personal service, he boasted, “Next year, I’ll be back up here, winning this award, because Nails never fails!”
Someone should tell that to his business partners at Doubledown Media. One issue into the venture, they’re suing Dykstra for breaching their contract and not paying them more than a half a million dollars he owed. He’s accused of driving up expenses and inflating costs without having the wherewithal to pay for the increased spending.
Those expenses included a $400,000 launch party and the hiring of magazine art director Arthur Hochstein as a design and editorial consultant. Dykstra also argued in favor of launching the title as a monthly rather than at a more inexpensive bimonthly frequency.
Interesting ideas for maintaining your wealth. Thankfully, I’ve sunk all money into Darren Daulton’s time travel business.