Biographer says Mickelson lost $40 million gambling in four years

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Los Angeles (AFP) – US federal auditors investigating Phil Mickelson’s role in an insider trading case found he suffered gambling losses of more than $40 million from 2010 to 2014, according to an excerpt from the upcoming biography of Phil Mickelson. ‘Alan Shipnuck on the American Golfer.

Shipnuck posted the unauthorized biography excerpt on the Firepit Collective website on Thursday.

The book, “Phil: The Rip-Roaring (and Unauthorized!) Biography of Golf’s Most Colorful Superstar,” is slated for release May 17.

It’s two days before the start of the PGA Championship, where Mickelson is the defending champion.

Mickelson became the oldest major winner in golf history when he won the PGA at Kiawah Island last year at the age of 50, but it is not yet known if he will defend the title at Southern Hills in Tulsa, Oklahoma.

Mickelson has not played since an uproar in February followed Shipnuck’s publication of the player’s explosive remarks regarding the Saudi-backed LIV golf tour led by Greg Norman.

The six-time champion called the Saudi partners “frightening”, citing the 2018 murder of Washington Post journalist Jamal Khashoggi.

But he said he’s willing to work with them if the breakaway tour provides “leverage” in efforts to force the US PGA Tour to change policies that Mickelson says deprive players of deserved opportunities. to earn money.

Mickelson was a relief defendant in a 2016 insider trading case that sent player Billy Walters to jail.

Mickelson was not charged, but paid back nearly $1 million from the deal.

In the excerpt released Thursday, Shipnuck, citing a source with direct access to the documents, writes that government auditors working on the case investigated Mickelson’s finances over four years, from 2010 to 2014.

“During those high earning years, Mickelson’s income was estimated to be just north of $40 million a year,” Shipnuck wrote. “It’s an obscene amount of money, but once he paid his taxes (including the California tariffs he publicly railed against), he ended up with, what, a low-20 Then he had to cover his plane and his mansion(s), plus his agent, caddy, pilots, chef, personal trainer, swing coaches and various others.

“Add in all the other expenses of a great life — like a real T. Rex skull for a birthday present — and that leaves, what, $10 million? According to the government audit, that’s about near Mickelson’s average in annual gambling losses.”

Mickelson’s management company confirmed in April that he had requested a release from the US PGA Tour to play in the first LIV Tour event, the LIV Golf Invitational near London from June 9-11.

But in a press release Steve Loy, co-president of the management of Sportfive, underlined that the player had not yet confirmed his participation.

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