Former Mets Outfielder Dykstra’s Estate Sold At Bankruptcy Auction

VENTURA (AP) — Former New York Mets outfielder Lenny Dykstra took out $18 million in loans three years ago to buy a California estate overlooking the Sherwood Country Club Golf Course.

It sold at bankruptcy auction last week for $760,712.

A junior lienholder bought the 12,713-square-foot Lake Sherwood home, near Thousand Oaks and Westlake Village. Index Investors representative Jeff Smith says he was the lone bidder at the Ventura County courthouse on Nov. 17.

There’s still a $13.5 million senior mortgage held by J.P. Morgan Chase & Co. The Oregon-based private equity firm is negotiating with J.P Morgan to deal with that debt.

Dykstra filed for bankruptcy protection in July, saying he owed more than $31 million and had about $50,000 in assets.

Dykstra told the Ventura County Star on Saturday that he doesn’t know anything about the auction.

(© Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


One Comment

  1. Richard in Castaic says:

    An athlete and his money are soon parted…

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Los Angeles

KNX 1070 Newsradio

Listen Live