Tuesday, December 06, 2022

Phil Mickelson lost $40 million in gambling losses: report

Federal auditors investigating Phil Mickelson’s role in an insider trading scheme found gambling losses totaling more than $40 million from 2010 to 2014, according to an excerpt from a forthcoming biography of Alan Shipk.

Shipunk posted the excerpt on his “Firepit Collective” site on Thursday. His unofficial biography on Mickelson is to be released on May 17 during the PGA Championship. Mickelson is the defending champion. He hasn’t said whether he will play or not.

Mickelson has been out of public view since the final round of the Saudi international on 6 February. A short time later, Shipunk posted explosive comments from Mickelson on his involvement in Greg Norman’s Saudi-backed golf venture.

Mickelson dismissed Saudi Arabia’s human rights record, including the murder of Washington Post reporter Jamal Khashoggi, by saying that joining the Saudis was appropriate if it meant getting what he wanted from the PGA Tour. was to be received.

Mickelson was a relief defendant in a 2016 insider trading case that sent famed gambler Billy Walters to prison.

Walters has since been released and is said to be writing a book.

In the most recent piece on $40 million in gambling damages, Shipunk wrote that government auditors examined Mickelson’s finances over the four years from 2010 to 2014. The author cited a source with direct access to the documents.

Mickelson’s annual income in 2012—at the time of the Dean Foods stock deal that netted Mickelson nearly $1 million a week—was estimated at about $48 million.

Shipunk also said that money was behind her split with longtime caddy Jim “Bones” McKay in 2017. He wrote that McKay left Mickelson after Memorial that year over a series of “simmering complaints”, which included hundreds of thousands of dollars in back pay. Shipunk has written more details about this which will be in the book.

Mickelson was seen as the main recruiter for Norman and his Saudi-funded LIV Golf investment. He told Shippunk in a November interview – that piece was published in February – that he recruited three players, who paid lawyers, to write the new league’s operating agreement.

Mickelson’s agent said he has asked the PGA Tour to release a conflicting event for play in the first LIV Golf Invitational series to be held on June 9–11 outside London.

The Telegraph in London, citing sources, said Mickelson has received an advance of $30 million and must appear at each of the eight events that make up the LIV Golf Invitational series. Tournaments offer $20 million in prize money, with an additional $5 million for team play.

Details of who is playing and how the team component will work have not been announced.


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