This was one of the first seven films, on which to be foreclosed, by the Screen Actors Guild for non-payment of wages and residuals to SAG members. On July 13, 2004, rights to the film were sold at auction.
Despite his character Karchy Jonas being 17-year-old. Brad Renfro was 15 years old during the filming of the film.
John Candy lobbied to play the role of Billy Magic. But Candy's agent convinced him not to pursue the part.
On the suggestion of Andy Paley, one of the music advisers and composers for the film, Kevin Bacon visited Philadelphia to spend a week with local radio legend Jerry Blavat so he could study his mannerisms and delivery on the air, including how to "shuffle" 45 r.p.m. records.
Because this film was financed by an independent production company, Screenwriter Joe Eszterhas agreed to sell his script for one hundred thousand dollars. According to his autobiography, "Hollywood Animal", Maximilian Schell wanted the same amount of money for playing his part. Eszterhas wanted Schell in the film so much, that he agreed his paycheck for the script would go straight to Schell.