Phil Lost $40 Million in Gambling Debts

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“According to a source with direct access to the documents, Mickelson had gambling losses totaling more than $40 million in the four-year period (2010–14) that was scrutinized,” the excerpt states. “In those prime earning years, his income was estimated to be just north of $40 million a year. That’s an obscene amount of money, but once he paid his taxes (including the California tariffs he publicly railed against), he was left with, what, low-20s? Then he had to cover his plane and mansion(s), plus his agent, caddie, pilots, chef, personal trainer, swing coaches and sundry others. Throw in all the other expenses of a big life—like an actual T. Rex skull for a birthday present—and that leaves, what, $10 million? Per the government audit, that’s roughly how much Mickelson averaged in annual gambling losses. (And we don’t know what we don’t know.) In other words, it’s quite possible he was barely breaking even, or maybe even in the red. And Mickelson’s income dropped considerably during his winless years from 2014 to ’17.”

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Imagine losing your yearly net income gambling. That's pretty amazing.

Another interesting snippet:

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“Bones had fired Phil at the ’17 Memorial, over a series of simmering grievances (laid out in detail in the book), including hundreds of thousands of dollars in overdue back pay,” Shipnuck wrote.

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What in the hell did he lose 10 million a year gambling on?

Caddie firing a player… that’s a new one.

Amy, the kids, & his support staff might beg to differ.

The article didn't mention gambling wins. Just a guess on my part but I would imagine the $40 million is net losses.

This is a hit piece article that is totally applauded by the PGA Tour PR people to make Phil look bad, because he wants to go to the Saudi thing.

I don’t like Phil, never have, but it’s nobody’s business but his own on how much he gambles.

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The article didn't mention gambling wins.

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That’s my point. They didn’t mention wins because it’s a hit piece trying to make him look bad

It doesn't take much to make Phil look bad. Ask Bones.

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What in the hell did he lose 10 million a year gambling on?

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It sounds like he was writing them off on his taxes? You can only write off the an amount equal to winnings, so this is really a wash, if true.

The Bones thing is all I really care about. Bones is one of, if not the, best. He seems like a good guy, too. If Phil stiffed him then that’s all I need to know. I can look right through the fake public Mr. Nice Guy persona to see how people treat others. Same as Kuchar. At least Patrick Reed (who I cannot stand) owns it and isn’t fake.

Phil doesn't need any help making himself look bad.