Phil Mickelson’s extraordinary gambling losses, lavish spending described in the new book excerpt

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by Phil Mickelson The gambling losses were highlighted Thursday in an excerpt from an upcoming bio.

While Mickelson was being investigated for his alleged role in an insider trading program, federal auditors found his gambling losses totaled more than $ 40 million from 2010 to 2014, according to Alan Shipnuck’s book excerpt. .

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Phil Mickelson departs on day 3 of PIF Saudi International at the Royal Greens Golf and Country Club on February 5, 2022, in Al Murooj, Saudi Arabia.
(Oisin Keniry / Getty Images)

The biographer wrote that the auditors investigated “Lefty’s” finances over four years, from 2010 to 2014. The author cited a source with direct access to the documents. The golf star’s annual income in 2012 was estimated to be around $ 48 million. He made about $ 1 million in a week from a Dean Foods stock deal.

The book also said that Mickelson’s split with longtime caddy Jim Mackay in 2017 was largely about the money and that Mickelson owed the caddy thousands of dollars in arrears.

Shipnuck also mentioned other wild spending.

“Throw in all the other expenses of a great life – like a real T. Rex skull for a birthday present – and that leaves, how much, $ 10 million?” Shipnuck wrote, via The Firepit collective. “According to the government audit, that’s roughly Mickelson’s average in annual gambling losses. (And we don’t know what we don’t know.) In other words, it’s entirely possible that he was barely breaking even, or maybe even in the red. And Mickelson’s income declined considerably during his winless years from 2014 to ’17. “

FLASHBACK: PHIL MICKELSON MAKES SURPRISING COMMENTS ON SAUDI GOLF LEAGUE: REPORT

Phil Mickelson hits his tee shot on the fifth hole of the South Course at Torrey Pines during the first round of the Farmers Insurance Open golf tournament on January 26, 2022 in San Diego.

Phil Mickelson hits his tee shot on the fifth hole of the South Course at Torrey Pines during the first round of the Farmers Insurance Open golf tournament on January 26, 2022 in San Diego.
(Photo AP / Denis Poroy)

“Phil: The Rip-Roaring (and Unauthorized!) Biography of Golf’s Most Colorful Superstar” will be out later this month.

Excerpts about Mickelson’s alleged leniency towards Saudi Arabian human rights abuses and the decision to join a Saudi-backed golf league also raised eyebrows.

Shipnuck posted a story based on a telephone interview on “The Firepit Collective” website..

“They are scary children to be involved with,” Mickelson would have said. “We know they killed [Washington Post reporter Jamal] Khashoggi and have a terrible human rights record. They execute people over there for being gay. Knowing all this, why should I even consider it? Because this is a once-in-a-lifetime opportunity to reshape the way the PGA Tour operates.

“They were able to get away with manipulative, coercive and strong tactics because we, the players, had no recourse. A good guy like [PGA Tour commissioner Jay Monahan] it seems that unless you have leverage it won’t do what’s right. And Saudi money has finally given us that leverage. I’m not even sure I want to [the Saudi golf league] be successful, but only the idea is allowing us to get things done with the [PGA] Voyage.”

Phil Mickelson speaks to the media during a practice round prior to PIF Saudi International at Royal Greens Golf and Country Club February 2, 2022, in Al Murooj, Saudi Arabia.

Phil Mickelson speaks to the media during a practice round prior to PIF Saudi International at Royal Greens Golf and Country Club February 2, 2022, in Al Murooj, Saudi Arabia.
(Luke Walker / WME IMG / WME IMG via Getty Images)

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Mickelson later apologized for those remarks.

The Associated Press contributed to this report.