Federal auditors investigating Phil Mickelson’s role in an insider trading scheme found his gambling losses amounted to more than $40 million from 2010 to 2014, according to an excerpt from the journalist’s forthcoming biography. Alan Shipnuck.
Shipnuck posted the snippet to his “Firepit Collective” site on Thursday. His unauthorized biography on Mickelson is set to be released May 17 during the PGA Championship. Mickelson is the defending champion. He did not say if he would play.
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Mickelson has not been seen by the public since the last round of the Saudi International on February 6. Shortly after, Shipnuck posted explosive comments from Mickelson about his involvement in the Greg Norman-backed golf business.
Mickelson dismissed Saudi Arabia’s human rights record, including the murder of Washington Post journalist Jamal Khashoggi, saying it was worth engaging with the Saudis if it meant getting a leverage to get what he wanted from the PGA Tour.
Mickelson was a relief defendant in 2016 in the insider trading case that sent famed gambler Billy Walters to jail.
Walters has since been released and said he was writing a book.
In the most recent excerpt on the $40 million in gambling losses, Shipnuck wrote that government auditors investigated Mickelson’s finances over four years, from 2010 to 2014. The author cited a source with direct access to documents.
Mickelson’s annual income in 2012 — the time of the Dean Foods stock deal that brought Mickelson nearly $1 million in one week — was estimated to be around $48 million.
Shipnuck also said money was a big part of her 2017 split from longtime caddy Jim “Bones” Mackay, who is now caddying for Justin Thomas. He wrote that Mackay left Mickelson after the Memorial that year because of a series of “simmering grievances”, including hundreds of thousands of dollars in back pay. Shipnuck wrote more about this in the book.
Mickelson was seen as a chief recruiter for Norman and his Saudi-funded LIV Golf investments. He told Shipnuck in a November interview — this excerpt was published in February — that he recruited three players who paid lawyers to draft the new league’s operating agreement.
Mickelson’s agent said he had asked the PGA Tour for a conflicting event exit to play in the inaugural LIV Golf Invitational series to be held June 9-11 outside London.
The London Telegraph quoted sources as saying Mickelson was given $30 million upfront and is due to appear in each of the eight events that make up the LIV Golf Invitational series. The 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.
Mickelson’s gambling story was a central narrative at the 2021 Rocket Mortgage Classic in Detroit, after The News published a report on the Hall of Fame golfer’s big bets with a Grosse Pointe bookmaker. The details had recently come to light through a court deposition, and Mickelson, playing the Rocket Mortgage Classic for the first time, lambasted The News throughout the week, both at press conferences and on social media. social. At one point he vowed never to return to Detroit, but later, citing fan support, he said he would return.
Mickelson has not committed to competing in the 2022 Rocket Mortgage Classic.
Writer Tony Paul contributed to this report.