As shown in the image below the proper name and extension for VMware Player 5.0.2 for Linux 32-bit is "VMware-Player-5.0.2-1031769.i386.bundle" not "VMware-Player-5.0.2-1031769.i386.txt" so I'd change .txt to .bundle as that's what it's supposed to be.
After doing that follow the installation directions "Install Player on a Linux Host" on page 12 of Getting Started with VMware Player PDF.
