Phil Mickelson lost $40 million while gambling.
Federal auditors who were looking into Phil Mickelson’s involvement in an insider trading scheme found that his gambling losses between 2010 and 2014 amounted to more than $40 million.
Shipnuck shared an extract on his “Firepit Collective” website on Thursday.
On May 17, at the PGA Championship, Mickelson’s unofficial biography will be released. Phil Mickelson is the reigning champion of the tournament. He has not said if he would participate or not.
Mickelson has not been seen in public since the conclusion of the Saudi International on February 6.
Shortly after that, Shipnuck talked about Mickelson’s shocking comments about his role in Greg Norman’s Saudi-backed golf company, which he had made.
Mickelson minimized Saudi Arabia’s human rights record, using the murder of Washington Post journalist Jamal Khashoggi as reason for establishing ties with the Saudis if it meant earning clout on the PGA Tour.
In 2016, Mickelson was a relief defendant in the insider trading case that led to the imprisonment of renowned gambler Billy Walters. Since his release, Walters has indicated that he is working on a book.
According to Shipnuck’s most recent piece on the $40 million in gambling losses, government auditors examined Mickelson’s accounts from 2010 to 2014.
The author’s identified source had direct access to the documents.
In 2012, Mickelson’s stated yearly income was around $48 million, around the time of the Dean Foods stock transaction, which netted him almost $1 million in a week.
Allegedly, Jim “Bones” Mackay, the longtime caddie who split with Shipnuck last year, had a lot to do with the money.
A lot of unpaid wages led Mackay to leave Mickelson after the Memorial that year, he says.
Norman and his Saudi-funded LIV Golf Investments saw Mickelson as an important recruit.
In a November interview with Shipnuck, an extract of which was released in February, he said that he recruited three players who hired attorneys to draught the operating agreement for the new league.
It’s said that Mickelson’s agent has asked the PGA Tour to let him play in the first LIV Golf Invitational series, which will be held outside of London on June 9-11.
He has been paid $30 million up front and must play in each of the eight LIV Golf Invitational tournaments, sources say.
The overall prize fund for the events is $20 million, with an extra $5 million for team play.
There are currently no information about who will play or how the team component will function.